Europe taking ‘final steps’ to establish SPV: Germany

Europe is only few steps away from establishing a non-dollar financial channel with Iran, also known as the Special Purpose Vehicle (SPV), German ambassador to Iran says.

‘[Europe] is taking final steps to make the SPV operational and we will see its implementation in the coming days,’ German Ambassador to Iran, Michael Klor-Berchtold, said on Saturday, AVA Diplomatic reports.

The German diplomat criticized the US unilateral withdrawal from the 2015 international treaty on Iran’s nuclear programme, also known as the Joint Comprehensive Plan of Action (JCPOA), saying ‘the German government has repeatedly regretted the US move.’

‘Germany has been trying to harmonize the European Union’s support for the JCPOA,’ added Klor-Berchtold in a meeting with I Iranian Parliament Speaker, Ali Motahhari, in Tehran.

He also stressed that ‘Germany believes Iran is one of the most important countries in the region and resolving regional issues requires cooperation with this country’.

For his part, the Iranian parliament vice-speaker lashed out at Europe’s delay in putting in place the SPV. ‘Following the US withdrawal, Europe is expected to take necessary practical steps in implementing the JCPOA, however, no appropriate measure has been taken so far,’ he stressed.

Motahhari said Iran expects the European SPV to be established in a bid to continue commercial cooperation between European, especially German firms, and Iran. He called on the three European countries, Britain, Germany and France, to support the companies that want to keep up commercial ties with Iran through the financial channel that’s been designed to bypass the US sanctions.

He also urged the European states to take ‘independent, firm and serious steps’ to stand against US ‘unilateralism’ and ‘its efforts to impose its own views on other countries.’

The Iranian lawmaker also requested that ‘German government revise its decision to suspend Mahan Air flights to Munich and Dusseldorf,’ saying Berlin has not offered any proven evidence to make such decision.