France optimistic about EU approach toward US anti-Iran sanctions: Media

Tehran, Nov 6, IRNA - A senior French official says Paris is sure EU's financial mechanism, called Special Purpose Vehicle (SPV), will be soon in place in the face of US unilateral sanctions against Iran, a UK-based news outlet reported.

EU's financial mechanism, SPV, is among the initiatives proposed by the European Union to protect trade with Iran while avoiding US sanctions.

Reuters wrote on Monday that European Union is against imposition of the second round of US sanctions against Iran and said the European Union has expressed hope to launch SPV in a short time.

Citing an unnamed French diplomat, Reuters wrote that he hopes the legal instruments will be launched within a few days, finalized within a few weeks or months, and implemented during 2019.

'Several states have been asked by EU foreign policy chief Federica Mogherini to consider being the headquarters,' the news agency wrote, 'however, no EU country has so far volunteered to host the entity.'

US President Donald Trump announced in early May Washington would pull out of Iran nuclear deal and reinstate the sanctions lifted under the deal. The first round of sanctions reinstated in August, with the second round which targeted Iran's oil and banking sectors taking effect on November 5th.

The other signatories to the deal (i.e. Britain, France, Germany, China and Russia) have thus far hit out at Washington's move and have repeatedly stressed their commitment to the deal and continuing trade with Iran.

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