Iran to open special trade channel with EU

Iranian Foreign Ministry said on Monday that a special bilateral trade channel will be opened with the EU in order to get around economic sanctions imposed on Tehran by the US.

The cooperation mechanism between Iran and EU has reached its final stages, Foreign Ministry spokesperson Bahram Qasemi said in a statement.

"If the Europeans and other partners, for any reason, cannot secure a guarantee, the issue can affect Iran's decision, and Tehran will take a way that is in line with its interests," Qasemi said in a statement cited by IRNA news agency.

Qasemi explained that details of the talks with the EU and the exact cooperation mechanism were being kept secret to prevent the US interference.

The US has re-imposed sanctions, including an oil embargo that will begin in November, after unilaterally withdrawing in May from the 2015 nuclear deal, which put limits on certain nuclear activities in Iran in exchange for lifting international sanctions.

The EU has continued to back the accord, which also included China and Russia, and has defended its relations with Iran.

Qasemi said that in a meeting in New York, the foreign ministers of Iran and the five countries that continue to support the pact (France, the United Kingdom, Germany, China, Russia) agreed to complete the cooperation programmes.

The meeting discussed payment channels and other measures to facilitate payments related to Iranian petroleum exports, among other issues, according to the final communique.

--IANS

soni/