MNA � Iranian Foreign Ministry Spokesman Bahram Ghasemi says Tehran welcomes the EU�s announcement of its special financial mechanism for trade with Iran, but considers it as a first step that should be followed by quicker implementation of other commitments.

�The Islamic Republic of Iran believes the recent move by the European Union to register and announce its special financial mechanism [for trade] with Iran is Europe�s first step in fulfilling its obligations towards Iran as per a May 2018 statement by the foreign ministers of Iran and the three European countries,� Ghasemi said in a Thursday statement.

He said Tehran welcomes the move, but at the same time calls for the full implementation of all EU obligations in the shortest time possible.

�Following the US withdrawal from JCPOA, despite political positions held by the EU about protecting the deal and the need for Iran to gain economic benefits and limited moves by the EU such as updating its blocking statute, unfortunately we have not seen tangible results and practical moves to Iran�s benefit,� he said.

�The EU�s move to create the special financial mechanism was carried out too late and the E3 and the EU must ensure that the move will compensate part of the illegal US sanctions,� he said.

�The Islamic Republic of Iran is ready for continuing constructive engagement with the European Union and its member states based on respect and mutual interests,� he said.

�Meanwhile, considering the limited, incomplete and long overdue fulfillment of EU obligations outlined in the May 2018 statement, Iran believes the bloc must accelerate the move and the fulfillment of its other obligations to let the Iranian nation reap the economic benefits of JCPOA,� he said.