Code: 699357 A

Iran's oil sales is at the center of the financial channel of the European Union, the country's foreign minister said in response to a recent report by Western media.

Rejecting Reuter's report that said the Special Purpose Vehicle (SPV) of Europe might not cover oil sales, Mohammad-Javad Zarif said that Iran's major export commodity is oil and if its money is not credited to a bank account, it is not clear that there would be any money for trade transactions.

The mechanism was part of Europe's efforts to deliver on its promises on keeping the landmark nuclear deal alive, after the US pulled out of the deal in May and re-imposed sanctions on Iran.

The deal known officially as the Joint Comprehensive Plan of Action was signed in 2015 by Iran on one side and the world major powers on the other.

The Europeans believe that keeping the nuclear deal with Iran is vital for their security, therefore they should pay for their security and preservation of the deal, Zarif said.

'We are in contact with the Europeans on technical issues to realize the financial mechanism,' he said, 'So, we hope that SPV can meet Iran's need to a reasonable extent.'

The preliminary information from the Europeans on launching the financial mechanism has been positive so far, said the Iranian minister.

'The Europeans prefer to resolve their security concerns without paying for it,' he said, adding that enjoying the benefits of JCPOA entails some costs.

Referring to a recent tweet by US Secretary of State Mike Pompeo, the Iranian foreign minister said that his American counterpart did not respect the United Nations' resolutions as the US violated it by withdrawing from the nuclear deal.

Pompeo has accused Iran of violating UN Security Council resolution 2231 by test-firing a new missile.

'Under the JCPOA, Iran is not prohibited from testing missiles, and the UNSC resolution 2231 has not banned it, rather it has urged Iran not to use the missiles capable of carrying nuclear warheads,' he said.

'They'd better study UNSC resolution 2231,' he said.

Iran does not seek using nuclear arms, and the Iranian missiles have been manufactured for carrying conventional warheads not the nuclear ones, the top Iranian diplomat said.

The nuclear-powered missiles do not require precision, the minister said.

Noting that precision-guided missiles have to do with conventional warheads, Zarif questioned the knowledge of US Secretary of State on Iranian missile test.

Commenting on recent protest in France, Iran's foreign minister said that any objection should be lawful and at the same time, the authorities should treat protesters peacefully.

'Islamic Republic of Iran reserves the right of peaceful protest for people,' he said.

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Europe SPV
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