Tehran, Iran, Nov. 23
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The EU envoy to Russia has reassured Iranian Ambassador Mehdi Sanaei over implementation of measures that would result in a financial transaction system for Iran.
Markus Ederer, ambassador of the European Union to the Russian Federation, stated that due to the re-imposed US sanctions against Iran, a new cooperation system will be implemented, IRNA reported.
The EU is moving ahead with Special Purpose Vehicle (SPV) as an alternative to SWIFT and facilitates transactions with Iran as a means of rescuing the nuclear deal.
The counterparts discussed the Iran-EU relations alongside implementation of a new payment system to transfer money, cooperation within the JCPOA (nuclear deal), the US sanctions, regional events and the upcoming JCPOA foreign ministers meeting.
"The European Union has criticized the US unilateral approach and its withdrawal from the Joint Comprehensive Plan of Action," Ederer said.
The United States withdrew from the Joint Comprehensive Plan of Action, also known as the Iran Deal, in May. The Trump administration has recently re-imposed sanctions against the country's banking and oil sectors alongside other areas.
France, Russia, China and Germany have remained supportive of the nuclear deal and aim to create a new system to bypass the sanctions.