US can either return to JCPOA or continue losing credibility
London, Iran's ambassador in London said the US will continue losing its credibility if it insists on abandoning Iran nuclear deal known as the Joint Comprehensive Plan of Action and violating the international law.
'It is not companies that must choose between the US and Iran. It is that the US can either abandon the JCPOA and violate international law-- continuing to lose credibility -- or return to the accord and uphold an international agreement which itself has signed,' Hamid Baeidijenad tweeted Wednesday.
Baeidinejad said the US Ambassador to the UK Robert Wood Johnson has threatened trade companies that they should choose to work either with Iran or the United States.
Such a bullying and coercive literature on the part of a businessman whose grandfather's company 'Johnson and Johnson' had been active in Iran for years even during the first round of anti-Iran sanctions, is blatant hypocrisy, the Iranian envoy said.
US President pulled his country out of the JCPOA on May 8 and vowed to impose highest level of sanctions on Iran. The US action drew sharp criticism from other parties to the international pact namely EU, UK, France, Germany, Russia and China.
Reuters reported on Wednesday that a new European Union mechanism to facilitate payments for Iranian exports should be legally in place by Nov. 4, when the next phase of U.S. sanctions hit, but will not be operational until early next year, three diplomats said.
The mechanism, also called special purpose vehicle (SPV), is designed to circumvent the sanctions, under which Washington can cut off any bank that enables oil transactions with Iran.
The SPV, which could incorporate a barter system, aims to sidestep the U.S. financial system by using an EU intermediary to handle trade with Iran. It could ensure, for example, that Iranian oil bought by Europeans could be paid for with EU goods and services of the same value.
We're trying to put the SPV in place before Nov. 4 and are pretty confident we can do it, one EU diplomat said. It won't be operational immediately. It will take time and the time that takes will be months.
Source: Islamic Republic News Agency - IRNA