EU In­ten­si­fies Ef­forts To Keep JCPOA Alive

Iran News - - FRONT PAGE -

TEHRAN (PressTV) - The EU says it has stepped up ef­forts to pre­serve a 2015 mul­ti­lat­eral nu­clear agree­ment with Iran af­ter the U.S. re­in­stated sanc­tions on the Islamic Re­pub­lic’s vi­tal oil-ex­port­ing and fi­nan­cial sec­tors.

Speak­ing to re­porters in Brus­sels on Fri­day, Maja Ko­ci­jan­cic, EU spokes­woman for for­eign af­fairs, said the bloc had in­creased its ef­forts to­wards the en­act­ment of mech­a­nisms, in­clud­ing a so-called spe­cial pur­pose ve­hi­cle (SPV), to by­pass the US sanc­tions and dis­card the dol­lar in deal­ings with Iran.

“The ef­forts to pre­serve the Iran nu­clear deal and eco­nomic and trade re­la­tions with Iran have in­ten­si­fied in re­cent weeks, es­pe­cially those that are re­lated to the set­ting up of the spe­cial pur­pose ve­hi­cle,” Ko­ci­jan­cic said.

The spe­cial pur­pose ve­hi­cle the EU is de­vel­op­ing is aimed at help­ing com­pa­nies avoid the US sanc­tions and con­tinue do­ing busi­ness with Iran.

Re­main­ing par­ties to the Iran nu­clear deal vow to es­tab­lish spe­cial pay­ment chan­nels to fa­cil­i­tate trade with Iran as part of ef­forts to save the JCPOA.

Ko­ci­jan­cic re­ferred to the “block­ing statute, which was up­dated in Au­gust” as “one of the key mea­sures” taken by the Euro­peans to fa­cil­i­tate trade with Tehran.

A block­ing statute is a law en­acted in 1996 to pro­tect Euro­pean en­ti­ties “against the ef­fects of the ex­tra-ter­ri­to­rial ap­pli­ca­tion of leg­is­la­tion adopted by a third coun­try.”

The law went into ef­fect on Au­gust 6, when the first set of U.S. sanc­tions against Iran took ef­fect. The statute would al­low firms to re­cover dam­ages from Amer­i­can mea­sures and nul­lify any court rul­ing against them.

“This is one of the mea­sures that have been put in place, but it’s the one that’s very rel­e­vant for com­pa­nies be­cause from our point of view, trade with Iran re­mains le­git­i­mate,” she said.

Ira­nian Deputy For­eign Min­is­ter Ab­bas Araqchi on Fri­day com­mended the po­lit­i­cal stances of the Euro­peans in sup­port­ing the coun­try in face of US sanc­tions but crit­i­cized “their fail­ure so far to bring about oper­a­tional ap­proaches and meet our ex­pec­ta­tions.”

“It is a fact that the Euro­peans moved much slower than we ex­pected” in the di­rec­tion of in­tro­duc­ing the sys­tem, Araqchi said.

Newspapers in English

Newspapers from Iran

© PressReader. All rights reserved.