The Iranian Foreign Ministry has criticized the European Union for delaying the establishment of a so-called Special Purpose Vehicle (SPV) which aims to facilitate non-dollar trade with Iran and bypass unilateral US sanctions.
Foreign Ministry spokesman Bahram Qasemi said the European Union was responsible for not implementing the SVP, and called on the block to think about possible consequences, according to the IRNA news agency.
Following a September ministerial meeting on the sidelines of the UN General Assembly, the United Kingdom, Germany, France, China, Russia and Iran announced that the EU would establish a financial mechanism to enable trade with Iran after a decision of the United States to reimpose sanctions on Tehran.