Berlin pursuing SPV final requirements: Germany

January 12, 2019

TEHRAN – Germany is pursuing the final requirements for implementation of the special purpose vehicle (SPV) for trade with Iran, German Foreign Minister Heiko Maas has said.

Speaking to German magazine Der Spiegel in an interview published on Friday, Maas said identifying a country to host the mentioned mechanism is among these requirements.

He said it would not be easy when the U.S. is trying to put pressure.

Germany hopes to finalize SPV within weeks, he added.

SPV is a financial mechanism that the European Union has proposed to facilitate trade with Iran by bypassing U.S. sanctions.

In response to a question on U.S. reliability as a partner, Maas said certainly Germany will no longer be able to have any consultations with the White House.

SP/PA

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