(Persia Digest) – Iran’s Minister of Foreign Affairs has announced delays in the activation of EU’s Special Purpose Vehicle (SPV) to counter US sanctions imposed on Iran which come into force on 4 November 2018.

Persia Digest (PD) reports that Iran’s FM, who is taking part in a trilateral ministerial level meeting between Iran, Turkey, and the Republic of Azerbaijan in Istanbul, stated: “We have had trilateral cooperation with Turkey and Azerbaijan for over three years now. Tomorrow is the last day of this round of meetings and consultations aiming to expand economic ties between our countries.”

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Javad Zarif added: “We will also use this opportunity to discuss regional issues with Turkey.”

He also commented on the second stage of sanctions against Iran coming into force on 4 November, saying: “The effects of the sanctions are now more psychological than practical. The effects of US sanctions showed themselves from the day Trump pulled the US out of the 2015 JCPOA deal, and even before that over the past six months. It is unlikely that anything new will happen on 4 November when the second stage of sanctions take effect.”

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He continued by saying: “The SPV set up by the EU will also come into force in the coming days. But it may take longer to use this due to sabotages and pressures exerted by the US.”

He added: “It is rather unlikely that the US can achieve its economic and political goals by reimposing sanctions against Iran considering the setup of the SPV and US isolation in the international community.

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