Politics
12:26, 25-Sep-2018
EU's Mogherini confirms SPV plan for trade with Iran
Updated
11:28, 28-Sep-2018
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The European Union's top diplomat Federica Mogherini has confirmed that the bloc is in the process of establishing a mechanism to protect EU businesses from US sanctions on Iran - including on oil sales - and said the legal entity would be open to other countries around the world.
Speaking in New York late on Monday local time alongside Iranian Foreign Minister Javad Zarif, Mogherini issued a statement from the remaining signatories of the Joint Comprehensive Plan of Action (JCPOA) stressing their continued commitment to the deal.
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She said that there existed a "determination to protect the freedom of economic operators to pursue legitimate business with Iran," in reference to the sanctions imposed on Tehran by the US following Washington's withdrawal from the 2015 agreement.
"Mindful of the urgency and the need for tangible results, the participants welcomed practical proposals to maintain and develop payment channels, notably the initiative to establish a special purpose vehicle to facilitate payments related to Iran's exports, including oil," Mogherini said.
A first set of US sanctions rolled back into place in August, and further sanctions - including on oil trade - are scheduled to enter force again in November.
The Trump administration has warned countries to stop doing business with Iran, but the remaining signatories to the JCPOA have sought avenues to protect companies from the sanctions in order to salvage the agreement.
Mogherini was speaking after chairing a meeting of senior officials from Britain, China, France, Germany, Russia and Iran on the sidelines of the UN General Assembly.
The officials met as US President Donald Trump and Iranian President Hassan Rouhani prepared to give high-profile addresses to the UN General Assembly on Tuesday.
China supports all endeavors conducive to safeguarding Iran deal
Chinese State Councilor and Foreign Minister Wang Yi during the meeting also said that China supports all endeavors which are conducive to safeguarding the JCPOA.
China hopes Iran can continue to implement the deal and other related parties will also fulfill their commitments, Wang said.
He added China supports the settlement of any disputes and differences through dialogue and consultation and supports the establishment of an equal and inclusive dialogue platform to discuss issues of concern to all parties.
"The positions of all parties are highly consistent, and new consensus has been formed," Wang said, noting that all parties have reaffirmed to continue to safeguard and implement the Iran deal.
All parties have deeply regretted the US withdrawal from the Iran nuclear deal while recognizing that Iran has fulfilled its nuclear commitments under the deal, said Wang.
He also told other foreign senior officials that our diplomatic efforts are not only in safeguarding a multilateral agreement but also in safeguarding the authority of the UN and Security Council, the non-proliferation system, peace and stability in the Middle East, multilateralism and international rules.
This effort is bound to be widely supported by the international community, Wang added.
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