Financial Tribune - The EU has set no preconditions on implementing the Special Purpose Vehicle that the EU has set up for Iran known as INSTEX, the UK ambassador in Iran said.

In a talk with the Financial Tribune on Wednesday, Ambassador Rob Macaire said the EU is setting up INSTEX as part of its commitment under the JCPOA –the nuclear deal Iran signed with the six world powers in 2015, which US President Donald Trump abandoned in the summer of last year.

"There are no strings attached and no hidden deals…The instrument is exactly what it says and the purpose and aspirations of the entity are transparent," Macaire said.