EU’s payments channel to act as bilateral monetary agreement: CBI

EU’s payments channel to act as bilateral monetary agreement: CBI

“Details of EU’s special payments channel to maintain economic ties between Iran and EU were discussed in the last week’s meeting in Brussels,”Abdolnaser Hemmati wrote on his Twitter account.
“The establishment of the special payments channel is based on a common understanding that Iranian and European companies and businesspeople are willing to maintain economic ties with one another despite US’ unilateral withdrawal from 2015 nuclear deal, known as the Joint Comprehension Plan of Action (JCPOA),” he added.
“In this regard, EU’s special payments channel is designed to solve difficulties related to financial transactions. The special channel would make is possible for Iranian and European exporters to receive the foreign exchange earnings from their exports,” CBI governor stated.
“EU’s special payments channel will act as a bilateral monetary agreement between Iran and EU. Both sides are pressing for its implementation as soon as possible. Details of the channel and the way to operate it are expected to be disclosed to the public and businesspeople in near future,” the official said.