The SPV’s financial structure center can be located in France

January 30, 2019 14:38 (UTC + 04: 00)

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By trend

The center of the financial structure envisaged in the Special Vehicle Mechanism (SPV) could be located in France, said Mohammadreza Modoudi, head of the Iranian Trade Promotion Organization (TPO), Trend reports via the Tasnim news agency. .

He said the financial structure will be managed by Germany, while the UK will carry out its implementation.

He added that the financial line within the SPV will help develop banking relations with Iran.

“There are reasons why France, Germany and the UK are cooperating with Iran in the financial mechanism,” he said. “It is their commitment to the Joint Comprehensive Plan of Action (JCPOA) on Iran, and they will operate in a way that would make it difficult for the United States to respond to this financial mechanism. “

He said it is still not clear to what extent the financial mechanism will contribute to the joint functioning of Iranian and European companies.

Following US sanctions against Iran in November 2018, the EU intends to establish an SPV to preserve financial ties with Iran under the JCPOA. This financial mechanism has not yet started to operate.

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Marianne R. Winn

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