Iran's Deputy FM: New initiatives on European financial mechanism being designed

Tehran, Nov. 21, IRNA - Iran's Deputy Foreign Minister for political affairs announced that there are new initiatives on the European Union 'special mechanism' and said that expertise talks with Europeans in this regard are continuing. 'Yesterday and today, I had good meetings with political directors and the UK and French nuclear negotiators,' Seyyed Abbas Eraqchi wrote on his Twitter account on Wednesday. “The political will of the European Union and the three European countries are still serious in preserving the Joint Comprehensive Plan of Action (JCPOA).' Iran's Deputy Foreign Minister also said that 'new initiatives about the Special Purpose Vehicle (SPV) are being designed and our expertise talks are continuing with them'. The European Union’s special financing mechanism is a project unveiled at the Iranian and 4+1 Foreign Ministers meeting on the sidelines of the 73th of the United Nations General Assembly. JCPOA partners are expected to provide services to the companies and firms through this special mechanism to trade with Iran, although this particular mechanism is facing technical and legal complexity and the United States is pushing the European countries to prevent it from being implemented.