Iran hopes that the special purpose vehicle that would allow the European Union (EU) to continue buying Iranian oil amid the U.S. sanctions will become operational by the end of this year, Ali Akbar Salehi, the head of the Atomic Energy Organization of Iran, told local outlet PressTV on Thursday. The idea behind the SPV is to have it act as a clearing house into which buyers of Iranian oil would pay, allowing the EU to trade oil with Iran without having to directly pay the Islamic Republic. The EU has been struggling to set up the vehicle for months, because no EU member was willing to host it for fear of angering the United States, the Financial Times reported recently, citing EU diplomats. Last week, Germany and France were said to be joining forces to host the special vehicle to keep trade with Iran, including oil trade, flowing, […]