Iran Says Europe’s New Trade Mechanism Is “First Step” – TV

Iran's chief nuclear negotiator Abbas Araghchi talks to the media after meeting IAEA Director General Yukiya Amano (not pictured) at the IAEA headquarters in Vienna February 24, 2015. REUTERS/Heinz-Peter Bader

DUBAI, Jan 31 (Reuters) Iran said on Thursday a new European mechanism to facilitate non-dollar trade with the country was a first step for the European Union to fulfil its commitments under a nuclear deal between Tehran and major powers, state television reported.

France, Germany and Britain have set up the mechanism in an effort to circumvent U.S. sanctions on Iran, though diplomats say it is unlikely to yield the big commercial transactions that Tehran says it needs to keep the nuclear deal afloat.

“It is a first step taken by the European side … We hope it will cover all goods and items,” Iranian Deputy Foreign Minister Abbas Araqchi told state TV.

(Writing by Parisa Hafezi Editing by Gareth Jones)