“What was Iran’s demand? What did the EU say? What happened in the oil ministry’s 15th floor on Saturday?”

TEHRAN (Shana) -- A day after the multilateral meeting by the EU heads of states in Sofia, the EU commissioner for energy led a delegation to Iran trying to signalize this message: “We are committed to back Iran for the sake of global oil trade.”

To send his message with even a louder voice, he was also accompanied by an entourage of journalists from the most influential international news organizations. I was also there in the oil ministry’s fifteenth floor. Here, I go little bit beyond the official communiques trying to simplify what were Iran’s demands and what was the EU’s response.
 
1- Iran demanded to maintain its exports of crude, condensates as well as petrochemical products to the EU to the same level as in April (700,000 barrels per day). Apart from that, Iran was also seeking a guarantee from the EU that Iran’s business with other customers including China and India would be not affected by the US sanctions. The EU has promised to keep buying Iran’s oil as before. But, it could not pledge if Iran’s other customers would do so in the face of US sanctions. It has been decided that further negotiations to be held on how to reach a workable plan over Iran’s exports to the EU, China and India.
 
2- The Iranian side has also asked the EU to guarantee a safe route for the transfer of oil money to Iran. The EU delegation has promised to conduct what it can to keep the SWIFT open for Iran. Furthermore, the EU has proposed to open a direct channel for the transfer of money from the EU central bank to Iran’s central bank. Also, Iran sought a guarantee from the EU for the transfer of money from Iran’s other customers including China and India. Further negotiations are excepted to be held for that too. The EU has promised to equip the Europe Investment Bank with the required infrastructures that can facilitate money transfer to Iran.
 
3- Insurance of Iranian shipping lines’ fleet was another thing discussed between both sides. Iran proposed that the EU can use the Japanese experience and deposit certain amount of money in P&I, so that P&I can insure the Iranian containers and ships.
 
4- Investment by multinational companies on Iran’s oil sector was also discussed between the two. Particularly spotlighted was Total’s investment on South Pars 11th Phase. The EU delegation promised to do whatever it can to exempt Total from the US sanctions, because the contract with Total was signed before the US withdrawal from the JCPOA. However, the EU could not guarantee if other companied would make invest in Iran.
 
By sending its energy commissioner to Iran, the EU has proved that it remains firm on its efforts to save the JCPOA and maintain its banking relationship with Iran. it has also executed sanctions blockade regulations. However, the fact is that companies’ relationships in the west is freer and more complex than it is thought. So, when you read the good news about the EU support for JCPOA, you should also expect that the EU would ultimately give up to the US pressure. By that time, does the EU become the US slave? A French minister has vehemently said “No”. Today, the EU stands at the critical juncture. We sit and watch how the EU would redefine itself. Till then, please fasten your belt.
 
Courtesy of Hamshahri Newspaper, 20 May 2018

 

By: Reza Zandi

News ID 282998

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