EU Had Better Launch SPV Before It Is Too Late

IRAN NEWS NATIONAL DESK

TEHRAN – Iran’s nuclear chief urged Europe to take necessary measures to accelerate the implementation of the Special Purpose Vehicle (SPV) before it becomes too late.

Speaking in an with the Islamic Republic News Agency (IRNA), Head of Atomic Energy Organization of Iran Ali Akbar Salehi commented on the current situation of cooperation between Iran, the Europeans, Russia and China about Iran’s nuclear deal known as the Joint Comprehensive Plan of Action (JCPOA) and said ‘it is unfortunate to say that lately the developments have not been very encouraging.’

He said Europe should take this as a message.

He further expressed hope that ‘before it is too late, Europeans, in particular, should fulfill what they have promised beforehand otherwise I am afraid that the future developments will not be conducive neither for us nor for them or even for other participants of the JCPOA.’

SPV, also known as Special Purpose Vehicle, is a financial mechanism that the European Union has proposed to facilitate trade with Iran.

It is regarded as a mechanism for EU members to keep doing business with Iran despite the US sanctions on Tehran.

Elsewhere in the interview, Salehi went on to say that Iran does not want to see the deal disintegrated and breached by any of the present members.

He said though the U.S. has already left the JCPOA, there are still other members who have stayed committed to the deal.

Despite receiving worldwide criticism over Washington’s anti-Iran measures, US President Donald Trump reinstated unilateral sanctions on Tehran on November 5, 2018, only a few months after leaving the JCPOA and imposed – as he described them – the “highest level” of economic bans on the Islamic Republic of Iran.

Salehi went on to reiterate in his interview that ‘Iran has been fulfilling its commitments regarding the deal and the 13 reports by the IAEA confirming the fact is a clear proof of this claim.’

‘The International Atomic Energy Agency (IAEA) has confirmed this in its 13 consecutive reports, based on a robust verification system, proving that Iran is implementing its nuclear commitments. There is no credible peaceful alternative to the JCPOA,’ the official added.

This is while earlier, Foreign Ministry spokesman Bahram Qasemi criticized the European Union for delay in implementation of the SPV following the US exit from Iran nuclear deal, saying that the country deems the 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.

The top nuclear official noted that ‘Iran’s patience is wearing thin and it is time for the EU to take its strategic decision. ‘

‘But on the side of the Europeans, it’s been months that they have promised us to come up with the SPV scheme which unfortunately has not yet been materialized,’ Salehi added.

Iran’s nuclear chief said ‘I have heard in the recent news that hopefully by Monday they will probably announce the formation of the SPV.’

‘I hope that they will take this step because this is an encouragement and will help keep the trust that we worked so hard to build between the two sides; otherwise, we will be losing the trust and once the trust is lost everybody will be a loser in the game.’

‘So I say that this is a battle we should not lose,’ he added.

‘We should win this battle and we can only win it together. Otherwise, it will become a battle already lost and certainly this will not be in the interest of the Europeans specifically if we notice that they look at the JCPOA mainly from the perspective of security.’