European Union Sets Up Payment System with Iran to Maintain Trade

"An essential part of the agreement and its implementation regards Iran having the possibility of benefiting from the lifting of sanctions, and this is exactly why we are discussing tonight, operational concrete steps that we can put in place", Mogherini told reporters before the talks at the United Nations.

President Trump said later on Tuesday that he has no plans to meet his Iranian counterpart; however, he was open to a possible future meeting with Rouhani. "No preconditions. If they want to meet, I'll meet", Trump said.

With Iran's economy already feeling the pinch, USA national security adviser John Bolton earlier Monday vowed to impose "maximum pressure" on Tehran, while insisting that Washington was not pushing for regime change.

The EU move comes a day before Trump and Iranian President Hassan Rouhani separately address the UN General Assembly, with the U.S. leader expected to take a hard line on Iran.

Earlier Ali Akbar Velayati, a top foreign policy adviser to Khamenei, dispelled the notion of Trump meeting his leader. "Maybe someday in the future", the president tweeted.

In a major setback to the United States and Trump's administration, the European Union has chose to constitute new ways to enable legal trade with Iran, despite U.S. sanctions, which are expected in November.

The Iranian prime minister was expected to stress that Tehran continues to stick to the 2015 nuclear deal that Trump pulled out of and portray the USA as a pariah for breaking its global commitments. "I am sure he is an absolutely lovely man!"

"Mindful of the urgency and the need for tangible results", Mogherini said, "participants welcomed practical proposals to maintain and develop payment channels, notably the initiative to establish a special goal vehicle to facilitate payments related to Iran's exports, including oil, and imports, which will assist and reassure economic operators pursuing legitimate business with Iran".

Oil truck drivers in Iran have started a new strike demanding improved working conditions, and the industrial action has resulted in large lines forming at gasoline stations in Iran, The Middle East Monitor reports, quoting the Anadolu Agency and local media.

Pompeo told Fox News Sunday that "the leader of [Iran] is Ayatollah Khamenei".

"That's who's running the show in Iran".

Iran has not requested a meeting with the USA president, a spokesman for Iran's mission to the United Nations said on Tuesday. "I think that would be an important and interesting conversation".

Known formally as the Joint Comprehensive Plan of Action (JCPOA), the Iran nuclear deal ended a almost 12-year stand-off between Iran and Western powers in 2015.

  • Joey Payne