An Iranian official says problems with Iran-China banking relations have been resolved and financial transactions will be resumed as of this weekend, when Beijing will restart its oil imports from the Islamic Republic.
France and Germany will likely host the Special Vehicle Purpose (SPV), a special payment channel created by Europe as part of its efforts to keep trade flowing with Iran in defiance of US sanctions, senior diplomats told the Wall Street Journal.
Iran’s Central Bank says a financial mechanism is being developed to replace SWIFT system for transactions with Iran, and foreign banks are gradually joining the new system, known as SEPAM, to conduct financial transactions with the Islamic Republic.
Iranian Foreign Minister Mohammad Javad Zarif said Tehran is frustrated by the slow pace of EU moves to help Iran reap the full benefits of the JCPOA after Washington’s pullout from the international deal.
Iran’s deputy oil minister says Europe’s special payment channel, known as Special Purpose Vehicle (SPV), may be set up in France to facilitate trade with Tehran.
Market figures in Iran show the prices of the US dollar and gold – two key drivers of consumer prices - have been declining over the past week in what is seen as a clear defiance against earlier predictions that sanctions could trigger a price shock in the country.
The Iranian parliament’s National Security and Foreign Policy commission has summoned Foreign Minister Mohammad Javad Zarif to clarify his controversial remarks about “rampant” money laundering in Iran, which have drawn angry reactions from political and media circles.
Iran’s top diplomat has once again argued for Tehran’s adoption of standards set by the global anti-money laundering body, saying concerns that FATF accession harms national security interests are baseless and Iran’s failure to get itself out FATF blacklist would mean Tehran has shot itself in the leg.
Iran’s legislation watchdog, the Guardian Council, has rejected a bill on Iran’s accession to the Combating the Financing of Terrorism (CFT) convention, which had been passed by the Parliament.
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