IRNA - Special Purpose Vehicle (SPV) will be launched in a short time, a European official said on Thursday.

In an exclusive interview with Islamic Republic News Agency (IRNA), the European official said on the condition of anonymity that the EU remains committed to implementing the nuclear deal as a matter of respecting international agreements and of our shared international security, and expect Iran to play a constructive role in this regard and to continue implementing all its nuclear commitments in full.

The official said the nuclear deal known as the Joint Comprehensive Plan of Action (JCPOA) is working and delivering its goal, namely to prevent Iran from acquiring nuclear weapons.

'The International Atomic Energy Agency (IAEA) has confirmed this in its thirteen consecutive reports, based on a robust verification system, that Iran is implementing its nuclear commitments. There is no credible peaceful alternative to the JCPOA,' the official added.

To preserve the agreement, the official said the EU has been and is putting in place concrete solutions.

'We updated the Blocking Statute and the European Investment Bank's (EIB) lending mandate. The remaining EU participants of the JCPOA, France, Germany and the UK have also remained committed to work on the preservation and maintenance of effective financial channels with Iran and in particular to work on the establishment of a Special Purpose Vehicle. Work is in the very final stages,' the official added.

This is while earlier, Foreign Ministry spokesman Bahram Qasemi criticized the European Union for delay in implementation of the SPV following the US exit from Iran nuclear deal, saying that the country deems the EU responsible for not implementing the mechanism.

“The Europeans as the main beneficiary should think about the consequences of the decision, as Iran has so far fulfilled all its commitments under the JCPOA,” he said, noting that Iran’s patience is wearing thin and it is time for the EU to take its strategic decision.

“Dollar dominance as well as interconnection of the EU and US economies are among the reasons behind SPV delay,' he said, noting that the EU and even the three countries favoring SPV are also captive and hostage of the US economy in JCPOA. He noted that they should make decision for their independence.