President Trump to EU, Do Not to Try to Evade Iran Sanctions

Iranians shop at the grand bazar in the capital Tehran

Iranians shop at the grand bazar in the capital Tehran

Following a September ministerial meeting on the sidelines of the UN General Assembly, the UK, Germany, France, China, Russia and Iran announced that the European Union would establish a financial mechanism to enable trade with Iran to bypass the USA sanctions. However, Spain has so far objected to the wording of the document.

The planned special objective vehicle will theoretically allow companies to continue doing business with Iran by receiving payments either through waivers for oil imports or through trade in permissible goods like medicines and food.

SPV is created to shield European companies keen to do business with Iran from United States sanctions that could result from dollar-based transactions.

European Union members are to discuss the conclusion about Iran in another meeting later this week.

Deputy Foreign Minister Seyyed Abbas Araqchi set off for Europe on Monday morning to negotiate with Austrian, Slovak and Bulgarian officials. The Trump administration called the European move as a sabotage of the "maximum pressure" tactic of the USA. The US pulled out of the deal back in May, reimposing sanctions. European nations have faced criticism over the delays in persuading companies to trade with Iran.

The "special objective vehicle" allowing European countries to trade with Iran will be created in the next few days French finance minister Bruno Le Maire said on France Inter radio.

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In response, Iran's Foreign Ministry spokesman Bahram Qasemi said that "our missile capability is not negotiable. we have repeatedly said that during our political talks with France." according to the Iranian state news agency (IRNA). "I can not confirm holding any secret talks with France over our missile programme", Qasemi said, when asked about Le Drian's remarks.

"The United States imposed extra-territorial sanctions to Iran".

The EU has commended Iran for sticking to its commitments under the nuclear deal, but has growing concerns about Tehran's ballistic missile programme, as well as its human rights record, its interference in Middle East conflicts and recent attempted attacks against opposition groups in Europe.

This decision is in the backdrop of Ali Akbar Salehi, the country's nuclear chief's last week statement where he threatened the restart of the nuclear enrichment program of the country in case of the collapse of nuclear agreement.

Iran, which has since conducted missile tests, maintains they do not violate the resolution as the missiles are not enabled to carry nuclear warheads.

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