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All tagged special purpose vehicle
◢ Iran hopes to have its part of a new payments vehicle—devised to bypass US sanctions—ready within a fortnight, its Deputy Foreign Minister Abbas Araghchi said on Wednesday. "We hope it will be before the end of the Iranian calendar year," Araghchi told reporters in Vienna, referring to March 20 when the Iranian year ends.
◢ The EU effort to save the Iran nuclear accord by building a mechanism to buy Tehran's oil despite the return of US sanctions has run into difficulty. Brussels supports the deal struck in 2015 to curb Iran's nuclear ambitions, which was dealt a blow in May when the US President Donald Trump pulled out. But Washington has announced the reimposition of broad sanctions from November 4, including on Iran's oil sector, scaring off European traders.
