French foreign minister, Jean-Yves Le Drian, on Saturday once again voiced his support for the Iran nuclear deal reached between Tehran and world powers in 2015, saying Europe is committed to creating a new mechanism and financial channel for trade with Iran.

Europe: According to Iran Press, Paris and other European capitals are committed to create a Special Purpose Vehicle (SPV) mechanism to safeguard Iran's economic interests from the Joint Comprehensive Plan of Action (JCPOA), Jean-Yves Le Drian said.

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Araqchi: America's conduct vis-a-vis JCPOA a sign of America's waning power

He made the remarks during a phone conversation with Iranian foreign minister Mohammad Javad Zarif.

Zarif and Le Drian discussed issues of mutual interest, including bilateral issues and implementation of Iran's nuclear deal.

On November 5, Iran's deputy foreign minister, Seyyed Abbas Araqchi, has emphasized that America's conduct vis-a-vis the JCPOA and the Islamic Republic of Iran are a very good indication of America's waning power and influence. He added: "From now on, it is going to be downhill for the US."

Elsewhere in his comments Araqchi referred to the setting up of a special financial channel, known as a special purpose vehicle (SPV), to facilitate trade between Iran and the European Union, saying the SPV is in its final stages and is almost ready.

US President Donald Trump announced early May that Washington would pull out of Iran nuclear deal and reinstate sanctions, which had been lifted under the accord.

The first round of the sanctions snapped back into place in August, with the second round, targeting the energy and oil sectors that took effect on November 5.

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On November 6, Iranian foreign minister Mohammad Javad Zarif in a message slammed US for its blind sanctions against Iran. Zarif said the new list of sanctions signifies confusion, quandary, and desperation in Washington, since the list includes a failed bank which went bankrupt 6 years ago and an oil tanker which capsized last year in the south China Sea.

This is while other signatories to the deal (i.e. Britain, France, Germany, China and Russia) have thus far criticized Washington's unilateral move and repeatedly renewed their commitment to the deal.

Also on 4 November, in an interview with USA TODAY, Iranian foreign minister Mohammad Javad Zarif said Iran is willing to hold talks with the US provided that there is a change in the US administration’s approach toward Iran.

Despite Trump's hostile policy towards the Joint Comprehensive Plan of Action (JCPOA), the head of the European Commission Jean-Claude Juncker said on 6 October, that the EU should remain strong on its' commitment to the historic Iran nuclear deal. 103


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