Iran criticizes Europe for "delays" in launch of payment channel

Iran's foreign ministry on Sunday slammed the European Union (EU) for what he called "delays" in the launch of payment channel the EU developed for trades with Iran.

Mohammad Javad Zarif said that the Europeans introduced the Instrument in Support of Trade Exchange (INSTEX) as "a preliminary measure" following U.S. withdrawal from the nuclear accord, reported by Press TV.

In order to honor their commitments, the Europeans should take practical steps to implement the INSTEX, he was quoted as saying.

The European partners to the Iranian international nuclear deal are "lagging behind" in fulfilling their commitments," he added.

On Jan. 31, the European Union announced the setting up of the new institution of INSTEX to secure trade with Iran and skirt U.S. anti-Iran sanctions after Washington pulled out of the 2015 landmark nuclear deal last May.