TEHRAN – Foreign Minister Mohammad Javad Zarif said on Thursday that at least seven central banks have agreed to create a special financial mechanism to have relations with Iran.

Hailing Europeans’ efforts to provide Iran with a financial mechanism to save the Iran nuclear deal, Zarif said the proposed “Special Purpose Vehicle” will come into effect in the near future, IRIB news reported.

He stated that the financial mechanism aimed at easing trade with the Islamic Republic will come into force in the near future “but what they want is an institution that can work beyond Iran, which may take longer.”

Source: TEHRAN TIMES