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Zarif: Oil Sales Linchpin of Europe’s SPV

Zarif: Oil Sales Linchpin of Europe’s SPVZarif: Oil Sales Linchpin of Europe’s SPV

Oil trade is the cornerstone of Europe’s financial mechanism to maintain business ties with Iran and the system cannot operate without covering the sale of Iranian crude, Foreign Minister Mohammed Javad Zarif said.  
His comment came in response to a recent report by Reuters in which it cited European Union diplomats who cast doubt on the mechanisms’ capability to keep Iran’s oil trade afloat in the face of the United States’ sanctions on Tehran. 
“They [EU diplomats] told Reuters that the goals of the nascent trade mechanism could be scaled back to encompass only less sensitive items such as humanitarian and food products,” the report said without naming the officials. 
Zarif denied the claim, stressing that “it is not the case based on the information we have”.

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