MNA � A senior member of Parliament told MNA on Wed. that Iran is not counting on the �economic� aspect of the EU�s promised trade mechanism that aimed to facilitate trade with Iran in the face of US sanctions.

Speaking to Mehr News correspondent on Wednesday, Chairman of National Security and Foreign Policy Commission of Iranian Parliament Heshmatollah Falahatpisheh said Iran is only counting on the EU�s trade mechanism, formally known as Special-Purpose Vehicle (SPV), in the political arena, and is not banking on its economic aspect given the current situation.

�Europeans are scared of the US and cannot set up an economic mechanism for Iran, but politics-wise, they have the necessary resolve, and Iran will make use of this capacity to establish links with other countries in the world,� he explained.

The senior MP went on to add, �in fact, we receive many of the commodities which we cannot import from Europe, through borders, which has ramped up our non-oil transactions with Iraq as high as what we could have had with 28 European countries.�

Falahatpisheh noted that Iran�s trade volume with Iraq has increased by 50% in the past eight months, which has resolved many issues caused by US� withdrawal from the 2015 nuclear deal and the re-imposition of sanctions against Iran.

�What is important to us is to maintain cooperation with countries that have the necessary political motivation and resolve to pay the price of standing against the US� unilateral sanctions,� he stressed.