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Iran minister says EU trade arrangement moving slowly, talking to India, China

Reuters  |  NEW DELHI 

(Reuters) - Iran's said on Tuesday the was moving more slower than expected in facilitating non-dollar trade with to circumvent U.S. sanctions, forcing it to explore avenues with other nations.

"We continue to work with the Europeans for the special purpose vehicle but we are not waiting for them," told reporters in "We are working with our traditional partners like India, like China, like so that we continue to work in the interest of our people."

The EU wanted a so-called special purpose vehicle (SPV) to help preserve the economic benefits for deriving from the curbs placed on its nuclear programme under a 2015 deal with world powers. In May 2018, withdrew the from it.

EU diplomats had hoped https://com/article/us-iran-nuclear-eu/eus-top-diplomat-eu-iran-trade-vehicle-could-be-ready-by-year-end-idUSKBN1O9209 to have the SPV in place last year but ran into delays as member states balked at hosting it for fear of being targeted by the revived U.S. sanctions regime against

Zarif also said he was talking to Indian officials about selling more urea to at a "reasonable" rate.

(Reporting by Nidhi Verma; Editing by Richard Borsuk)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, January 08 2019. 12:11 IST