IRNA � Iran has not become completely disappointed with Europe, Iran's deputy foreign minister told the Islamic Republic News Agency in Madrid on Saturday.

'We have not reached that point yet, but Iran's government is ready for all the possible scenarios,' said Abbas Araqchi, adding that Iran is ready to counter the sanctions with different solutions.

Araqchi, who is in Madrid to take part in the second round of negotiations with his Spanish counterpart, said, 'We have taken into consideration several collaboration methods to counter the sanctions and are still working on all solutions.'

Regarding the Special-Purpose Vehicle, he said, 'It is a fact that the Americans are threatening the Europeans with sanctions if they intend to cooperate with Iran to counter the sanctions.

'Iran has been living with sanction for 40 years, we have learned to find our way to fight the sanctions.'

Now Europe has to make a decision whether to move under the economic supremacy of the US or to safeguard its own credit and sovereignty, he said.