European economic centers awaiting SPV for Iran trade: Russian expert

Moscow, Jan 12, IRNA – Many economic centers and industry owners in Europe are waiting for implementation of the special purpose vehicle (SPV) for trade with Iran, a senior fellow at the Institute of Oriental Studies of the Russian Academy of Sciences said on Saturday.

To safeguard its credibility, the Europe has to establish a special financial mechanism for cooperating with Iran, Vladimir Sazhin told the Islamic Republic News Agency (IRNA) in Moscow.

Iranian officials said in December 2018 that SPV is among methods devised by Europe as a financial mechanism to continue financial transactions with Iran. It is going through the final phase according to Europeans’ claim.

As Sazhin said, the European investors and big Asian companies are waiting for implementation of the financial mechanism in order to resume their trade exchanges with Iran.

The fact that the European Union (EU) foreign policy chief Federica Mogherini keeps reiterating that Iran nuclear deal known as the Joint Comprehensive Plan of Action (JCPOA) should be kept alive shows willingness of the European officials to safeguard it although the US President Donald Trump unilaterally withdrew from it on May 8, 2018, as a new step to increase pressuers on Iran, Sazhin said.

Despite the world’s criticism over Washington’s anti-Iran measures, Trump reinstated unilateral sanctions on Tehran on November 5, few months after leaving the JCPOA, and imposed as he claimed the “highest level” of economic bans on the Islamic Republic of Iran.

The analyst added that most observers believe that sanctioning Iran’s oil for a long period will lead to oil price hike and weaken [US] dollar in the international arenas, which will ultimately lead to the US defeat and its withdrawal from its unilateral decisions.

The Russian researcher went on to say that his country’s trade sector is keen for cooperation with Iran.

About Iran’s commitment to the JCPOA, Sazhin said Tehran has been loyal to its promises within the framework of the deal, stressing that the International Atomic Energy Agency (IAEA) too has confirmed Iran’s loyalty over ten times.

Talking of Iran’s missile program, Sazhin said the US says such program endangers the regional countries while it is unreasonable to make a link between JCPAO and the missile program.

Then, the Russian professor described the Iran deal as a good solution to the nuclear issue.

Other disputes between Iran and the US should be reviewed beyond the framework of the JCPOA, he added.

The sole way to break the deadlock created by the US over the issue is the full implementation of the Iran Deal and the Europe faithfulness to the deal as well, he stressed.

The US by putting pressure on the world society is after a psychological war to isolate Iran; while, the recent experiences show that Washington will never reach its goals as the world will not accompany its anti-Iran policies.

Meanwhile, the Iranian officials have declared that the US fresh sanctions are just a psychological move which will have no practical impact.

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