German FM: SPV final touches being applied

ID : N-3972 Date : 2019/01/12 - 10:38

(Persia Digest) - Germany is pursuing the final requirements for implementation of Special Purpose Vehicle (SPV) for trade, German Foreign Minister Heiko Maas said.

Speaking to German magazine 'Der Spiegel', Maas said that identifying a country to host the mentioned mechanism is among these requirements. reports IRNA.

He added that it would not be easy when US is trying to put pressure.

Germany hopes to finalize SPV within weeks, he noted.

SPV is a financial mechanism that the European Union has proposed to facilitate trade with Iran.

It is regarded as a special purpose vehicle, a system which is viewed as a mechanism for EU members to keep doing business with Iran despite the US sanctions on Tehran.

In response to a question on US trustability as a partner, Maas said certainly Germany will no longer be able to have any consultations with the White House.


Read more:

EU: SPV for Iran to start work soon

EU not able to launch SPV for trade with Iran

Increased German exports to Iran


Earlier Iran's Foreign Ministry spokesman Bahram Qasemi criticized European Union for delay in implementation of SPV following the US exit from Iran nuclear deal, saying that the country deems EU responsible for not implementing the mechanism.

“The Europeans as the main beneficiary should think about the consequences of the decision, as Iran has so far fulfilled all its commitments under the JCPOA,” he said, noting that Iran’s patience is wearing thin and it is time for the EU to take its strategic decision.

Qasemi added that the EU showed positive political will in creating SPV, but it is currently felt that they face a serious incapability in enforcing it.

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