Iran calls for EU determination for finalizing SPV

Tehran, Dec 3, IRNA – Iranian Foreign Ministry spokesman Bahram Qasemi urged the European Union to be determined to finalize its promised SPV (Special Purpose Vehicle for trade) mechanism. We discussed EU mechanism with European officials in Brussels last week, Qasemi said. Iran's expectations are clear; he said, adding that due to some reasons the mechanism has not been finalized in some fields. Referring to the EU and P4+1 determination, he said the reason behind their delay is the decision-making process and also the US pressures on the European countries. SPV would be very important for the EU economic cooperation, Qasemi said. Earlier Iranian Deputy Foreign Minister for Political Affairs Abbas Araqchi told the Islamic Republic News Agency (IRNA) that despite the US pressures, the European Union continues efforts to provide a financial mechanism for trade with Iran. Araqchi noted that the EU needs more time to provide the SPV mechanism, but underlined that Iran cannot wait forever.