Addition of Six European States to INSTEX Inconsequential

The fact that six more European countries have joined INSTEX is meant to create an environment of optimism so that Iran would stay in the agreement while a solution is sought, an ex-diplomat says
Addition of Six European States to INSTEX Inconsequential Addition of Six European States to INSTEX Inconsequential

A decision by six more European countries to join the EU financial mechanism set up to facilitate trade with Iran is aimed at creating optimism and will unlikely be effective, a former diplomat says. 
"I do not think the addition of these countries to the INSTEX would have a serious and strong impact on the current situation," Mohsen Pak-Ayeen, who has served as Iran’s envoy to several countries, told ISNA in a recent interview, in reference to the Instrument in Support of Trade Exchanges—a special mechanism aimed at bypassing US sanctions against Tehran. 
Belgium, Denmark, Finland, the Netherlands, Norway and Sweden said in a joint statement that they would begin the process of joining the financial system.
INSTEX was established in January by France, Britain and Germany—key European countries who signed a nuclear deal with Iran in 2015—to salvage the accord between Iran and major powers after US President Donald Trump withdrew his country from the agreement. 


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