TEHRAN – Foreign Minister Mohammad Javad Zarif warned Europeans on Sunday that Tehran will not wait for them for too long to implement their mechanism for trade with Iran.

“Europeans are too late and they must not imagine that the Islamic Republic will wait for them,” Zarif told reporters.

In January Europeans introduced their special purpose vehicle, known as Instrument in Support of Trade Exchanges (INSTEX), for non-dollar trade with Iran.

Zarif said for implementing INSTEX it was necessary that Iran also establish a similar mechanism and this was established last week and “now there is no excuse for Europeans not to start their work.”

PA/MH