"We do not expect the SPV will in any way impact our maximum economic pressure campaign", the spokesperson said. "We are closely following reports about the SPV to gain additional details about the mechanism".
READ MORE: Europe Prepares to Help Trade With Iran Despite US Sanctions — Reports
Following the US withdrawal from the Iranian nuclear deal and re-imposing of the American sanctions against Tehran, the EU attempted to create the Special Purpose Vehicle in a bid to give European companies a way to trade with the Islamic Republic without being threatened by US sanctions.
Recently Maja Kocijancic, a spokeswoman for EU foreign policy chief Federica Mogherini, announced that preparations for the alternative money system between Tehran and Brussels were "at an advanced stage" and vowed the launch would be declared "very soon".