EghtesadOnline: Iran and Armenia discussed the possibility of establishing a special-purpose vehicle for conducting trade between the two neighboring countries.
EghtesadOnline: Turkish President Recep Tayyip Erdogan said his country is "ready" to set up its own trade mechanism with Iran, allowing companies from the two neighboring countries to continue with their "legitimate" business amid the hostile US sanctions.
EghtesadOnline: The Swiss government is moving ahead with plans to unveil a humanitarian payment channel for Iran through complex negotiations with different parties in Iran, the US and Switzerland.
EghtesadOnline: Iran’s nuclear chief says progress in efforts by the European Union to facilitate trade with the country despite US sanctions would be an “encouraging” sign that can help keep the trust between Tehran and Europe alive.
EghtesadOnline: The European Commission said it’s seeking to launch “very soon” a special purpose vehicle to help European companies bypass US sanctions on Iran, with three European diplomats saying the official unveiling could come as early as Monday.
EghtesadOnline: As Iranian traders (and more broadly Europeans) wait for the launch of the long-awaited special purpose vehicle by European powers, some businesses fear that the trade mechanism may after all fail to shield Iran’s trade from the long reach of US sanctions.
EghtesadOnline: Iran is displeased with the European Union for its delay in launching a financial payment channel to circumvent the United States sanctions, but has not yet completely lost hope of the plan’s eventual implementation, a senior diplomat said.
EghtesadOnline: The European Union says work is continuing to set up a special payment mechanism to facilitate trade with Iran and sidestep US sanctions against Tehran.
EghtesadOnline: As the main party to blame for the possible failure of efforts to set up a special financial mechanism for trading with Iran, Europe will have to ponder over the implications of its inaction, a senior foreign affairs official said.
EghtesadOnline: The Special Purpose Vehicle, a dedicated non-dollar payment channel created by Europe to keep trade flowing with Iran in defiance of US sanctions, is likely to be launched soon.