Iranian President Hassan Rouhani reiterated his criticism of US sanctions and vowed to resist the economic war by circumventing oil sanctions.
Referring to what the United States had said on bringing Iranian people to their knees through economic pressure, the President said, “We won’t let pressures by the US and its mercenaries to create major problems for the Iranian nation and we will never surrender under any pressure”.
Addressing the people of Khoy city on Monday, Rouhani indicated that US sanctions on Iran are part of a psychological war launched by Washington against Tehran that will fail, asserting that Iran will continue to export its crude.
“The enemies are trying to put economic pressure and wage psychological war against the people of Iran. They think that the people will surrender to their bullying under these pressures,” he added.
US reimposed sanctions on Iran, third largest oil producer in OPEC, to force Tehran to abandon its ballistic missile program.
“We will establish better, closer relations with our neighbors. We will strengthen our relations with the Azerbaijan Republic, Turkey, Iraq, and other countries day by day,” continued the President.
Rouhani addressed the US officials, saying they won’t be able to stop the country’s oil exports.
He went on to say, “We know that you feel you have failed and we know that you were not able to reach your goals in Afghanistan, Iraq, and Syria.”
The EU is trying to establish what is known as the "Special Purpose Vehicle" to establish non-dollar trade relations with Iran. But this has not stopped foreign investors, ranging from oil companies and trading houses to firms to leave Iran for fear of incurring US penalties.
The SPV is a kind of clearinghouse that could be used to help match Iranian oil and gas exports against purchases of EU goods in an effective barter arrangement circumventing US sanctions, which are based on the global use of the dollar for oil sales.
Iran threatened to withdraw from the nuclear deal if its economic advantages are not maintained, but Foreign Ministry spokesman Bahram Qassemi hoped Europe will deliver on what it had promised.
Six diplomats told Reuters last week that the EU had tried to create an SPV this month, but no country had offered to host it.
Qassemi said that Europe is expected to honor its commitments to salvage the Joint Comprehensive Plan of Action (JCPOA), adding there are still ambiguities with regard to the implementation of SPV, which has been designed to conduct banking transactions with Iran, but “none of the issues indicate that it won’t be achievable.”
On Monday, Fars quoted Iran’s Deputy Minister of Petroleum Amirhossein Zamaninia as saying that France is likely to host the special purpose vehicle.
Diplomatic sources in Paris told Asharq Al-Awsat that negotiations at the level of European countries are underway on the establishment of the financial channel with Tehran.
The Finance Ministry has said that all options are on the table for the SPV and that no decisions have been taken.
Washington has warned that European banks and firms that engage in the SPV will be at risk from the reimposed US sanctions.
Zamaninia told ISNA news agency that European countries are seeking to establish banking relations with Iran, but they are faced by the US influence in practical steps they take.
The Iranian official indicated that the financial channel is being formed in France, stressing that his country hopes to reach results within weeks.
Other countries, including China, Russia, Japan, India, and Brazil, are awaiting the activation of the European financial channel, according to Zamaninia.
