TEHRAN - Iran is "frustrated" with the slow pace of European Union (EU) to help the country to benefit under its international nuclear deal after US pullout from the accord in May.

Iranian Foreign Minister Mohammad Javad Zarif was quoted as saying by Tasnim news agency on Tuesday that he was confident that Iran would find markets for oil exports even though the US measures have pushed down Iran's crude exports sharply.

"There are always markets for oil. It depends on the conditions and the price," he said, adding that "I believe Iran will always sell oil."

The US is not living up to its promises and all its sanctions against Iran are unlawful and against the UN Security Council resolutions, he said, adding that the US is not even bound to the commitment it has made.

Under these circumstances, EU is expected to speed up the moves to help European companies to continue trade with Iran, Zarif stressed.

"What is important is that Europe has made the political commitment but, unfortunately, it has been very slow in practice," Zarif said.

A clearing house, known as a Special Purpose Vehicle, which designed to allow European companies to bypass the US sanctions, is due to be set up by the EU within the next few months, according to the western media.