EU Member States To Establish Legal Entity To Facilitate Trade With Iran - Mogherini

UNITED NATIONS (Pakistan Point News / Sputnik - 25th September, 2018) Foreign ministers of five states remain committed to the nuclear deal on Iran decided on the sidelines of the UN General Assembly to establish a legal entity that would facilitate legitimate trading of European companies with Iran in the context of the US sanctions against Tehran, EU Foreign Policy Chief Federica Mogherini told reporters.

"The participants welcomed practical proposals to maintain and develop payment channels to establish a special purpose vehicle to facilitate payments related to Iran's exports, including oil, and imports," Mogherini said, reading out the joint ministerial statement of the five states loyal to the JCPOA [Joint Comprehensive Plan of Action] on Iran, on Monday. "EU member states will set up a legal entity to facilitate legitimate transactions with Iran."