SPV Operationalization "to Take Months" After Nov. 4 Unveiling

A new European Union mechanism to facilitate payments for Iranian exports should be legally in place by Nov. 4, when the next phase of US sanctions hit, but will not be operational until early next year, three diplomats said.
The mechanism, a so-cal…

A new European Union mechanism to facilitate payments for Iranian exports should be legally in place by Nov. 4, when the next phase of US sanctions hit, but will not be operational until early next year, three diplomats said. The mechanism, a so-called special purpose vehicle (SPV), is designed...