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Legal Matters

European mechanism for Iran’s payments step forward

Tehran, Iran's Vice President for Economic Affairs said the initiative to establish a 'special mechanism' to facilitate payments for Iran's exports and imports from Europe was a step forward.

Mohammad Nahavandian added that given the serious support of the five governments and the European Union, this financial institution will not be affected by American threats.

Nahavandian at the end of the government meeting in an interview with reporters about the initiative to establish a special mechanism by the EU for facilitating export payments (including oil) and imports from Iran, said the decision was announced by Mrs. Mogherini, in nuclear agreement, is the decision of the five countries that are now on the Iranian side and this decision is an important step forward.

He added, 'This idea has long been proposed as one of the operational strategies for solving American threat against corporations and banks, and now the decision has been taken and announced.'

The economic vice president added that the special financial institution will do this, and the moneys from Iran's oil and non-oil exports will be transferred to this institution, and imports and allocations will also be carried out through this institution.

Nahavandian said, 'Given the serious support of the five governments and the European Union from this financial institution, the American threat will not affect it.'

Source: Islamic Republic News Agency - IRNA

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