SPV to be established by year end: Mogherini

December 11, 2018 - 22:10

TEHRAN – European Union foreign policy chief Federica Mogherini has said the special purpose vehicle (SPV) meant to help companies do business with Iran will be completed by the end of the year, Bloomberg reported on Monday.

“I would expect this instrument to be established in the coming weeks, so before the end of the year, as a way to protect and promote legitimate business with Iran,” Mogherini told reporters in Brussels after a meeting of foreign affairs ministers. “Work is advancing well.”

The EU has been trying to save the Joint Comprehensive Plan of Action (JCPOA) despite U.S. pressure.