Iran press/ Iran news: Abdol-Nasser Hemmati said, in his Instagram post on Friday that the details of a new European Union mechanism to facilitate payments for Iranian exports were discussed in the last week’s meeting in Brussels.
The establishment of this payments channel is based on this common understanding that both Iranian and European companies and businesses are eager to maintain and continue trade ties with one another despite the US’ unilateral withdrawal from the Joint Comprehensive Plan of Action (JCPOA), the CBI governor added.
He maintained that the EU financial mechanism is designed to circumvent issues related to financial transactions, adding that the mechanism would make it possible for Iranian and European exporters to receive the foreign exchange earnings from their exports.
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“The payments channel will act as a bilateral monetary agreement between Iran and the European Union, therefore both sides are pressing for its implementation as soon as possible,” Hemmati added.
He said the details of the payments channel and the way it will operate are expected to be disclosed to the public and business community soon.
Hemmati said, in his Instagram post on Friday EU’s financial mechanism to be opened
The plan to create the special payment channel was first announced on September in a joint statement by Federica Mogherini and Iranian Foreign Minister Mohammad Javad Zarif after a ministerial meeting of Iran and the remaining parties to the nuclear agreement.
The payments channel, a so-called special purpose vehicle (SPV), is designed to circumvent the sanctions, under which Washington can cut off any bank that enables oil transactions with Iran.
The entity would at one stage involve national central banks and there was no reason to think the Trump administration would not target them, the diplomat said.
The EU, with support from China and Russia, hopes to save the 2015 nuclear deal by allowing trade to flow despite US penalties.
Back in May, the US withdrew from a 2015 multilateral nuclear agreement with Iran and said it would re-introduce the sanctions that had been lifted under the accord.
Washington reinstated a series of unilateral sanctions against Iran in early August and would re-impose a second batch in November which would primarily be meant to cut off any bank that enables oil transactions with Iran.
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