Iraqchi's Hope for Implementation of Part of Europe's Mechanism Before US Oil Sanctions

Abbas Araghchi, Iran's Deputy Foreign Minister, expressed hope on Tuesday, October 3rd, that part of the proposed mechanism by three European countries for providing banking and commercial facilities to Iran would be operational before the imposition of US oil sanctions on November 5th. Araghchi told Iranian state television that the meeting of the remaining countries in the nuclear agreement known as the JCPOA with Iran on Monday, October 2nd, in New York was a 'big step forward.' The 1+4 emphasized 'pursuing actions for payment and the continuation of Iran's oil exports.' The foreign ministers of France, Russia, China, and the UK, four permanent members of the Security Council, along with Germany, met with Iran's Foreign Minister Mohammad Javad Zarif, with the presence of Federica Mogherini, the EU's chief foreign policy official. They stated in a declaration that they are trying to find solutions to provide financial and banking facilities to the Islamic Republic. The Iranian Deputy Foreign Minister said that in this meeting, 'previous political commitments were emphasized, and ideas and solutions for Iran's banking exchanges with other countries were designed, which were welcomed by the Foreign Minister (Mohammad Javad Zarif) last night.' He added, 'We hope that before November 5th, or the second round of US sanctions, part of these mechanisms will be operational. In some of these solutions, a special economic route for Iran was designed so that, in addition to Europe, third countries could also engage in currency exchange and payment for purchasing oil from Iran.' Meanwhile, John Bolton, the National Security Advisor to the US President, warned on Tuesday that the United States would not allow its sanctions to be violated by Europe. Bolton stated, 'The European Union is strong in rhetoric and weak in follow-up... We are watching the development of this structure that does not yet exist and for which no specific date has been announced for its establishment. We will not allow our sanctions to be violated by Europe or anyone else.' Mike Pompeo, the US Secretary of State, also described the three European countries' solutions for circumventing sanctions against Iran as 'unconstructive.' In another part of this interview, Abbas Araghchi stated that during Donald Trump's speech at the Security Council on Wednesday, the European countries in the council would defend the nuclear agreement with Iran. The Iranian Deputy Foreign Minister stated, 'We are aware that other European members of this council intend to support the JCPOA and will emphasize the necessity of adhering to it.' He added, 'I am confident that tomorrow's meeting will be held contrary to Mr. Trump's wishes.' The US currently holds the rotating presidency of the Security Council, and this council meeting, presided over by Donald Trump, will focus on issues such as the proliferation of weapons of mass destruction in addition to the Iran issue. Donald Trump announced on May 8th the decision for Washington to withdraw from the nuclear agreement with Iran, known as the JCPOA, and announced the re-imposition of sanctions on Tehran. US officials state that Iran has not adhered to the spirit of the JCPOA due to its 'destabilizing' actions in the Middle East, including missile activities and support for regional militia groups. The US is seeking negotiations on the JCPOA, Iran's missile program, and regional activities, while Iranian officials assert that Tehran will not negotiate at all regarding the JCPOA and its missile program.