Iran hopes to have its part of a new payments vehicle — devised to bypass US sanctions — ready within a fortnight, its Deputy Foreign Minister Abbas Araghchi says.
“We hope it will be before the end of the Iranian calendar year,” Araghchi tells reporters in Vienna, referring to March 20 when the Iranian year ends.
Araghchi is in the Austrian capital for a “joint commission” with representatives from China, Russia, Britain and France — all signatories of the international deal on Iran’s nuclear program.
Iran’s Deputy Foreign Minister Abbas Araghchi, who is also a senior nuclear negotiator, speaks with media in his press conference in Tehran, Iran, on January 15, 2017. (AP Photo/Vahid Salemi)
The new payments vehicle, known as INSTEX, is seen as key to European Union efforts to preserve the deal struck in 2015 between world powers and Iran over its nuclear program, the Joint Comprehensive Plan of Action (JCPOA).
— AFP
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