The head of Iran’s Atomic Energy Organization, Ali Akbar Salehi, warned the European Union of ominous consequences, if it did not follow through with action to keep the economic benefits of the 2015 nuclear agreement alive.
"If words are not turned into deeds, then ... it is very ominous, the situation would be unpredictable," Reuters cited Salehi as saying.
Iran’s nuclear chief, however, said he believed the EU was "doing its best" and was on its way to delivering on its promises.
The Special Purpose Vehicle (SPV) would act as a kind of clearing house that could be used to help match Iranian oil and gas exports against purchases of EU goods in an effective barter arrangement.
"Nobody should have any doubt on the level of political ambition and determination by the member states involved, in particular France, Germany and the United Kingdom to swiftly operationalize the SPV," Europe’s Climate and Energy Commissioner Miguel Arias Canete said at a joint news briefing.
"This is a hugely complex and unique undertaking, technical work has been advancing over the last days and weeks," Canete added.
