Tehran welcomes French, German and UK special financial mechanism for settlements with Iran, and considers it the EU first step to fulfill its obligations, spokesperson for Iranian MFA Bahram Ghasemi noted.

“The Islamic Republic of Iran believes the recent move by the European Union to register and announce its special financial mechanism [for trade] with Iran is Europe’s first step in fulfilling its obligations towards Iran as per a May 2018 statement by the foreign ministers of Iran and the three European countries,” Mehr News reported quoting Ghasemi.

According to him, Tehran welcomes the move, but calls for the full implementation of all EU obligations as soon as possible.

“Following the US withdrawal from JCPOA, despite political positions held by the EU about protecting the deal and the need for Iran to gain economic benefits and limited moves by the EU such as updating its blocking statute, unfortunately we have not seen tangible results and practical moves to Iran’s benefit,” he said. 

The EU’s move to create the special financial mechanism was carried out too late, he added.

“The Islamic Republic of Iran is ready for continuing constructive engagement with the European Union and its member states based on respect and mutual interests,” Ghasemi noted.