Mohammad Javad Zarif, Iran's Foreign Minister, criticized the 'slowness' of European countries in assisting trade with Iran and warned that without Iran benefiting from the 'economic dividends' of the JCPOA, 'the continuation of the current situation' is impossible. After meeting with Jeremy Hunt, the British Foreign Secretary, on Monday, Zarif told the British newspaper The Guardian that Iran is 'disappointed with the slow pace of the EU in helping European companies willing to continue trade with Iran.' He expressed regret that Europe has made a 'political commitment' but has been 'very slow in operationalizing these commitments.' The EU mechanism known as the 'Special Purpose Vehicle' (SPV) is intended to circumvent U.S. sanctions against banks involved in transferring money for Iran's oil exports. However, informed sources in the EU have told Radio Free Europe/Radio Liberty that none of the 28 EU member states are willing to host this special mechanism. Abbas Araghchi, Iran's Deputy Foreign Minister, also pointed to the dominance of the dollar and the U.S. financial system over European institutions and the complexities of this mechanism as reasons for the delay in its establishment. The House of Parliament's news agency, affiliated with the Iranian parliament, quoted Zarif as saying: 'Europeans know that without securing the economic dividends of the JCPOA, the continuation of the situation is not possible,' and they are facing 'challenges' in determining the host country for the financial channel between Iran and Europe. He noted that discussions continue in Europe and between Iran and Europe on this matter, confirming the rejection of hosting this special financial mechanism by some European countries and warning that Iran has always stated that it has 'multiple options' regarding the JCPOA; thus, our choices will be made based on national interests and the framework defined in the country. Zarif also stated that the decision and timing of its announcement will be determined by 'our officials based on the latest situations.' Previously, the head of the National Security and Foreign Policy Commission of the Iranian Parliament criticized the 'delay' of Europeans in practical cooperation with Iran regarding sanctions in response to Austria's rejection of hosting the European financial channel. Heshmatollah Falahatpisheh described Iran-Europe relations as 'always lukewarm' that 'have had no practical effect in countering Iran's sanctions.' Western diplomats had stated that the European special mechanism would 'symbolically' start operating on November 4, but they predicted that its operationalization and implementation would take until early this winter.
Zarif: The Current Situation Cannot Continue Without Economic Benefits from the JCPOA
Iran's Foreign Minister Mohammad Javad Zarif criticized the slow response of European countries in facilitating trade with Iran under the JCPOA, warning that the current situation cannot persist without economic benefits from the agreement. The EU's special mechanism to bypass U.S. sanctions has faced delays, with no member state willing to host it, raising concerns about the future of Iran-EU relations.
👥 Key Players
📰 What Happened
Iran's Foreign Minister criticized European countries for their slow response in facilitating trade under the JCPOA. The EU's mechanism to bypass U.S. sanctions faces delays due to no member state willing to host it.
- Iran is dissatisfied with the EU's slow implementation of the Special Purpose Vehicle (SPV) to bypass U.S. sanctions.
- No EU member state has agreed to host the SPV, complicating efforts to maintain trade with Iran.
💡 Why It Matters
📚 Background
The JCPOA, signed in 2015, aimed to limit Iran's nuclear program in exchange for lifting economic sanctions. The U.S. withdrawal in 2018 led to renewed sanctions, challenging the agreement's viability.
Translated from the original and edited for English readers. View original source →
Translation confidence: 85%