Iran's Foreign Minister Mohammad Javad Zarif. (Photo: IC)

Iran's Foreign Minister Mohammad Javad Zarif said Wednesday that the Islamic Republic is determined to suspend more of its commitments under a 2015 landmark nuclear deal if the European signatories fail to uphold their end of the deal, state TV reported.

Zarif made the remarks on the sidelines of a cabinet meeting on Wednesday.

He referred to the EU-designed special payment channel with Iran, complaining that it is still in its preliminary stage and is yet to become operational.

European Union announced the launch of EU's special payment channel with Iran, namely INSTEX, in January to secure trade with Iran and skirt US anti-Iran sanctions.

He also criticized what he called US interference in the implementation of EU payment channel, saying that "INSTEX should not be turned into a tool for carrying out US orders and (enable) them (Americans) to decide how this mechanism can function."

The mechanism should guarantee that Iran would be able to sell its oil and collect the revenue, he pointed out.

Zarif urged Europe to "use courage to act based on its commitments, not on the American demands."

According to a report by Iran's Eghtesadonline news website, the INSTEX would initially only entail deals in products such as pharmaceuticals and food, which are not subject to US sanctions.

The Islamic republic started withdrawal from parts of its obligations under the deal in two intervals since May 2019, one year after US exit from the deal.