TEHRAN – A senior lawmaker said on Wednesday that Iran is not counting on the “economic” aspect of the special purpose vehicle (SPV), the European Union’s initiative intended to protect trade with Iran in defiance of U.S. sanctions, Mehr reported.

The Europeans are scared of the U.S. and cannot set up an economic mechanism for Iran, but they are politically determined, and Iran will make use of this capacity to establish links with other countries in the world, said Majlis National Security and Foreign Policy Committee Chairman Heshmatollah Falahatpisheh.

The U.S. reimposed economic sanctions on Iran after it unilaterally withdrew from the Joint Comprehensive Plan of Action (JCPOA) in May.

MH/PA