System to circumvent US sanctions on Iran ready soon: German FM

System to circumvent US sanctions on Iran ready soon: German FM ...
aljazeera.com 10/06/2019 Economy

Keywords:#2015, #AFP, #Aljazeera.com, #Britain, #Donald_Trump, #EU, #European, #European_Union, #Foreign_Minister, #France, #German, #Germany, #Hassan_Rouhani, #Heiko_Maas, #Iran, #Iranian, #JCPOA, #Japan, #Javad_Zarif, #Mike_Pompeo, #Mohammad_Javad_Zarif, #Mousavi, #President, #Prime_Minister, #Rouhani, #Shinzo_Abe, #Tehran, #Tokyo, #Trump, #US, #Washington, #Yukiya_Amano

European payment system nearly operational in key development to salvage Iran nuclear pact with world powers.
A European payment system designed to circumvent US sanctions on Iran will be ready soon, Germany announced on Monday.
Iran's Javad Zarif greets German Foreign Minister Heiko Maas in Tehran on Monday [Abedin Taherkenareh/EPA-EFE]

* * * German Foreign Minister Heiko Maas met Iranian President Hassan Rouhani and Foreign Minister Mohammad Javad Zarif in Tehran as part of European efforts to salvage the historic JCPOA nuclear pact and defuse rising US-Iranian tension.
Iran and Germany held "frank and serious" talks on saving the 2015 deal with world powers, Zarif told a joint press conference.
"Tehran will cooperate with EU signatories of the deal to save it," Zarif said.
Maas said earlier the payment system, known as INSTEX, (Instrument in Support of Trade Exchanges) will soon be ready to go after months of work.
"This is an instrument of a new kind so it's not straightforward to operationalise it," he said, pointing to the complexity of trying to install a totally new payment system.
"But all the formal requirements are in place now, and so I'm assuming we'll be ready to use it in the foreseeable future," added Mass about the system for barter-based trade with Iran.
A cautious thaw in relations between Tehran and Washington began in 2015 when the deal was struck between six world powers and Iran, limiting its nuclear activity.
But tensions with the US have mounted since President Donald Trump withdrew Washington from the accord in 2018 and reimposed sweeping sanctions.
Iran has criticised the European signatories of the JCPOA for failing to salvage the pact after Trump pulled the US out.
"There is a serious situation in the region. An escalation of tension is becoming uncontrollable and military action wouldn't be in line with the interests of any party," Maas said.
"Germany, France, and Britain call for supporting the deal and we are fulfilling our commitments. We are doing our utmost to prevent the failure of the deal."
Foreign ministry spokesman Abbas Mousavi said on Monday that Iran would consider negotiating with the US if it halts "economic terrorism" against the Iranian people.
"We will think about the rhetoric and words when they are accompanied with actions and change of attitude. The best example would be a decrease in pain and suffering of the Iranian people caused by the illegal and targeted pressure by the US government against the Iranian nation," Mousavi said.
The UN atomic watchdog's chief Yukiya Amano, meanwhile, expressed concern about rising tensions over Iran's nuclear programme, calling on Monday for dialogue to ease them.
Danger of conflict
In an effort to protect at least some of Iran's economy and keep alive the nuclear deal that Washington is about to quit, France, Britain and Germany set up INSTEX as a special-purpose vehicle for facilitating non-dollar trade with Iran.
The three European Union members maintain the nuclear pact remains the best way to limit Iran's enrichment of uranium, a potential pathway to the development of nuclear weapons, and have been trying to get Iran to keep to its commitments under the deal.
A cautious thaw in relations between Tehran and Washington began in 2015 when the deal was struck between six world powers and Iran, limiting its nuclear activity.
But tensions with the US have mounted since President Donald Trump withdrew Washington from the accord in 2018 and reimposed sweeping sanctions.
Iran has criticised the European signatories of the JCPOA for failing to salvage the pact after Trump pulled the US out.
"There is a serious situation in the region. An escalation of tension is becoming uncontrollable and military action wouldn't be in line with the interests of any party," Maas said.
"Germany, France, and Britain call for supporting the deal and we are fulfilling our commitments. We are doing our utmost to prevent the failure of the deal."
Foreign ministry spokesman Abbas Mousavi said on Monday that Iran would consider negotiating with the US if it halts "economic terrorism" against the Iranian people.
"We will think about the rhetoric and words when they are accompanied with actions and change of attitude. The best example would be a decrease in pain and suffering of the Iranian people caused by the illegal and targeted pressure by the US government against the Iranian nation," Mousavi said.
The UN atomic watchdog's chief Yukiya Amano, meanwhile, expressed concern about rising tensions over Iran's nuclear programme, calling on Monday for dialogue to ease them.
Danger of conflict
In an effort to protect at least some of Iran's economy and keep alive the nuclear deal that Washington is about to quit, France, Britain and Germany set up INSTEX as a special-purpose vehicle for facilitating non-dollar trade with Iran.
The three European Union members maintain the nuclear pact remains the best way to limit Iran's enrichment of uranium, a potential pathway to the development of nuclear weapons, and have been trying to get Iran to keep to its commitments under the deal.
Iran has always maintained its nuclear activity is peaceful and refuses to put its missile and military capabilities on the negotiating table, something the Trump administration has demanded.
Maas coordinated his trip with France and Britain, and also discussed it with US Secretary of State Mike Pompeo.
In addition to the German visit, Japan's Prime Minister Shinzo Abe arrives on Wednesday in Iran on a rare diplomatic mission, hoping to ease the tensions between Tehran and Washington.
Japan wants to lower the temperature, officials say, with Abe winning Trump's blessing for the mediation trip when the US leader visited Tokyo last month.
However, the visit by Japan's leader "faces substantial obstacles and is unlikely to bear fruit", Tobias Harris, an analyst at Teneo consultancy group, told AFP news agency.
--- ---
...

Read more from Source »

Related articles based on keyword density
IRAN NUCLEAR TALKS STUMBLE, EXTENDED UNTIL JULY ...
hosted.ap.org 24/11/2014 News
BY MATTHEW LEE AND GEORGE JAHN ASSOCIATED PRESS VIENNA (AP) -- Still facing significant differences between the U.S. and Iran, negotiators gave up on...View Details»

Iran's Zarif warns US 'cannot expect to stay safe' ...
aljazeera.com 11/06/2019 Politics
Foreign minister issues warning over 'economic war' being conducted against Islamic Republic through US sanctions. *** Foreign Minister Mohammad Javad...View Details»

Global “Elders” urge Iran to build on nuclear deal - The Washington Po...
washingtonpost.com 28/01/2014 Politics
TEHRAN, Iran — The former head of the United Nations urged Iran Monday to build on a historic deal reached with world powers in November and work towa...View Details»

Middle East - Security Council debates ending UN sanctions on Iran - ...
france24.com 13/03/2015 News
Major world powers have begun talks about a UN Security Council resolution to lift UN sanctions on Iran if a nuclear agreement is struck with Tehran, ...View Details»

Anger in Iran as tough US sanctions kick in ...
aljazeera.com 06/11/2018 Politics
President Rouhani vows to 'proudly bypass' US reimposed sanctions, saying Iran will continue to sell oil. 05 Nov 2018 15:15 GMT *** Thousands took to ...View Details»


EOF