Iran turns to traditional partners as EU tarries on bypassing US sanctions
Tehran(KNA) - Foreign Minister Mohammad Javad Zarif says Iran is working with its traditional partners such as China, Russia and India to circumvent the US sanctions.
Zarif told reporters in New Delhi Tuesday that the European Union is moving more slowly than expected to facilitate non-dollar trade with Tehran through a mechanism called the special purpose vehicle (SPV).
"We continue to work with the Europeans for the special purpose vehicle but we will not wait for them [to act]," said Zarif who arrived in the Indian capital late Monday for a three-day visit.
"We are working with our traditional partners like India, China and Russia so that we continue to serve the interests of our people," he added.
EU foreign policy chief Federica Mogherini said last Wednesday that efforts to implement the special purpose vehicle for trade with Iran would continue well into 2019.
So far, the Europeans have defaulted on two deadlines which they had announced for bringing the SPV into operation. The vehicle purportedly aims to ensure economic benefits for Iran from staying in a 2015 nuclear deal after President Donald Trump recanted it in May.
On Saturday, Foreign Ministry spokesman Bahram Qassemi said Iran "holds Europe definitely responsible for failing to implement the financial mechanism," warning that the bloc should account for the "consequences" of the delay.
Source: PressTV