TEHRAN (Press Shia Agency) – The Iranian president’s Chief of Staff, Mahmoud Vaezi, said talks about the European Union’s package of economic measures to secure Iran’s benefits from the 2015 nuclear deal known as the Joint Comprehensive Plan of Action (JCPOA) are progressing well. 

Speaking to reporters on the sidelines of a cabinet session in Tehran on Wednesday, Vaezi pointed to the so-called Special Purpose Vehicle (SPV), a mechanism aimed at facilitating trade with Iran after the US sanctions come into effect, saying that the issue would be “definitely” operational in coming days. 

“Our negotiations with Europe are on the right path and issues that occurred over the past few months have been mostly psychological,” he added, referring to the recent turmoil in Iran’s currency market.

The president’s Chief of Staff further pointed to the US sanctions and said, “The US is trying to exert pressure on the Iranian people and government, however, various committees have been formed and everyone is busy planning to counter that (pressure).”

The European Union has vowed to counter US President Donald Trump’s renewed sanctions on Iran, including by means of a new law to shield European companies from punitive measures.

On May 8, the US president pulled his country out of the JCPOA, the nuclear deal that was achieved in Vienna in 2015 after years of negotiations among Iran and the Group 5+1 (Russia, China, the US, Britain, France and Germany).

Following the US exit, Iran and the remaining parties launched talks to save the accord.

Trump on August 6 signed an executive order re-imposing many sanctions on Iran, three months after pulling out of the Iran nuclear deal.

He said the US policy is to levy “maximum economic pressure” on the country.

The second batch of US sanctions against the Islamic Republic is slated to take effect on November 4.