Ghasemi: Europe's Financial Mechanism Covers All Goods

The spokesperson for Iran's Foreign Ministry states that the special financial mechanism of Europe with Iran is not limited to the purchase of medicine and food, but includes other 'goods' as well. Bahram Ghasemi, on Monday during a press conference, mentioned that the financial mechanism is being implemented to 'facilitate exchanges between Iran and the European Union' and added that 'industrial and economic investment should also find its place in this basket of goods.' According to him, 'this mechanism includes many items that can be part of this basket, including medicine, food, and other goods; this mechanism can also be established with other countries.' The EU's plan, titled 'Instrument in Support of Trade Exchanges' (INSTEX), was initially supposed to be implemented simultaneously with the full return of U.S. sanctions against Iran, but its execution has faced challenges, the most significant being the refusal of some EU countries to host it. Iranian officials cite U.S. threats as the main reason for some countries, including Austria and Luxembourg, refusing to host the office of this special financial mechanism. Nevertheless, they have repeatedly warned European officials that Iran's patience is running thin, and if Tehran does not benefit from the JCPOA, there will be no reason to remain in the agreement. Ghasemi also referred to Iran's and its European partners' efforts to establish economic relations without the dollar, stating: 'In the current situation, where the U.S. is looking for excuses and any means to obstruct Iran's interests, I cannot provide details.' He added: 'In this regard, some countries have engaged in more serious negotiations with us, and we have exchanged expert groups, and once finalized and ready for implementation, we will discuss it further.' Iranian Foreign Minister Mohammad Javad Zarif had previously stated that Europe is secretly pursuing the registration and implementation of its special financial mechanism to continue trade with Iran to avoid U.S. pressure. The European financial mechanism is designed to facilitate barter transactions with Iran, meaning that the money from Iran's oil exports to European countries will be offset by the sale of European goods and services to Iran. However, the U.S. has described this plan as Europe's mistake regarding Iran. Federica Mogherini, the EU's foreign policy chief, has also announced that the special financial mechanism for non-dollar trade with Iran will be ready by the end of this year. Ali Akbar Salehi, head of Iran's Atomic Energy Organization, expressed hope that Europe's 'promises' for Iran to benefit from the economic conditions of the JCPOA would be realized before the New Year of 2019. In the continuation of his press conference, Ghasemi addressed the reluctance of Chinese investors to invest in Iran's oil and gas market, stating that 'our criterion is agreements and contracts with governments. Certainly, U.S. pressure and its Treasury on large companies is significant not only in the West but also in the East and our neighboring countries.' The Iranian Foreign Ministry spokesperson also told reporters that regarding the 'withdrawal or non-cooperation of some companies until precise official information is received from the governments of these companies,' it should be viewed as 'psychological warfare.' He also added in response to a question about the expiration of the 45-day economic exemption for Iraq regarding Iran under U.S. pressure that 'Iraq is a good neighbor with a long border and many crossings, and we will continue our cooperation as before with the same precision and intensity.'