10:34 GMT24 October 2020
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    Top Iranian politicians have been criticising the EU for its lack of progress in creating the special trade tool, designed to help European firms continue doing business with Iran without fear of being sanctioned by the US.

    Iranian envoy to Russia Mehdi Sanaei said that the EU mechanism for trade with the Islamic Republic is just the first step toward dialogue and stability, but added that more needs to be done in the future. Sanaei added that Tehran expects more from Brussels in terms of the EU's efforts in the creation of the trade mechanism.

    The envoy said that the EU's solution to the US sanctions came "extremely late", but still called it a big, "serious step". He underscored that for its part, Tehran is continuing to adhere to the Iran nuclear deal, something which the envoy says has been confirmed by the International Atomic Energy Agency's checks.

    The EU suggested creating special trade tool soon after the US threatened to sanction European firms that would continue doing business with Iran after Washington's introduction of sanctions against the country. However, Iranian politicians have recently been pointing out that the process of creating the mechanism has been stagnating, showing little progress.


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    sanctions, Special Purpose Vehicle (SPV), EU, Iran
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