Zarif Expresses Discontent with Europe's Proposal Package to Iran

Iran's Foreign Minister expressed dissatisfaction with the proposal package from Europe to Iran and denied reports about Iran selling oil in exchange for goods from Russia. Mohammad Javad Zarif stated in an interview with Euronews that the European proposal was unsatisfactory and that negotiations are ongoing. He also mentioned that Europe has given Iran a 'political commitment' to maintain the JCPOA, but this commitment is not enough. Zarif urged European countries to counter the withdrawal of their companies from Iran if they are interested in continuing the JCPOA. He emphasized that 'Iran should not be the only party in the agreement that has incurred costs. We must witness banking activities and account openings.' Iranian officials and European representatives have not disclosed the details of the European proposal package, but some have indicated that it addresses some of Tehran's demands such as financial transactions, transportation, and oil sales. The Iranian Oil Minister also stated on Saturday, July 6, that Iranian Foreign Ministry officials were 'not very satisfied' with the details of the European proposal package. On July 4, it was announced that European Parliament representatives voted on a plan that allows the European Investment Bank to cooperate with Iran, but this decision is 'not binding.' However, the head of this bank announced that it prefers not to invest in Iran. Zarif also responded to reports about selling Iranian oil to Russia in exchange for goods, stating that the 'cooperation package' between the two countries does not include 'selling or giving oil to Russia and receiving goods in return.' He stressed that 'this package is much larger' and includes areas such as energy cooperation and 'also the possibility for Iran to receive cash.' On Friday, July 13, Alexander Novak, the Russian Energy Minister, mentioned the feasibility of implementing a 'oil-for-goods program' between the two countries. Pedram Soltani, Vice President of the Iran Chamber of Commerce, also announced on Tuesday, July 17, that based on the European proposal packages to the Islamic Republic, the purchase of Iranian oil by Europe will be conducted through barter (exchange for goods). Previously, Eshaq Jahangiri, the First Vice President of Iran, had considered 'barter' or exchanging oil for essential goods as one of the ways to counter U.S. sanctions; an action that was also taken during Mahmoud Ahmadinejad's presidency, but after that, reports emerged about Iran not receiving its payments. Yahya Al-Ishaq, the head of the Tehran Chamber of Commerce, had stated in 2014 that Iran has 'about 100 billion dollars of frozen currency' in countries like China, India, and Japan, but 'cannot quickly utilize them.' The U.S. aims to reduce Iran's oil exports to zero, but Steven Mnuchin, the U.S. Treasury Secretary, stated that if buyers of Iranian oil 'cannot do this overnight, we will make exceptions.'