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EU payment system no ‘oil-for-goods’ deal, Iran says

Oil&Gas Materials 1 October 2018 12:56 (UTC +04:00)

Tehran, Iran, Oct. 1

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The Iranian foreign ministry spokesman has rejected reports that Europe’s special payment system with Iran to bypass US sanctions would be a kind of oil-for-goods deal with Tehran in the era of sanctions.

“I reject the interpretation of ‘oil-for-goods’ deal or any similar ones,” Bahram Qassemi said on Monday during a daily press conference.

“This is not true,” he stressed.

Qassemi added that Iran cannot reveal the details of the EU proposed payment mechanism as the US is seeking to block the path to trades with Iran.

Meanwhile, the EU foreign policy chief Federica Mogherini, speaking last week alongside Foreign Minister Zarif in New York, said European Union members were working on a legal entity that would allow businesses to buy oil and conduct other business with Iran in hopes of avoiding US sanctions.

On May 8, US President Donald Trump pulled his country out of the JCPOA, which was achieved in Vienna in 2015 after years of negotiations among Iran and the Group 5+1 (Russia, China, the US, Britain, France and Germany).

The US has also re-imposed sanctions on Iran and has devised a new wave of economic sanctions, which are aimed at pushing Iran’s oil exports down to zero.

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