National
0

States in Talks With Europe to Use INSTEX

Several States in Talks With Europe to Use INSTEXSeveral States in Talks With Europe to Use INSTEX

A number of countries are holding negotiations with Europe to use their newly-registered special financial mechanism to continue their non-dollar trade with Iran.
Bahram Qasemi, the ministry’s spokesman, made the announcement to reporters during his regular press conference in Tehran on Monday.
“[The mechanism] will begin with specific goods and countries, and if the progress is positive, it will be available for other countries to use,” he said. 
The special purpose vehicle known as INSTEX (Instrument in Support of Trade Exchanges) is a mechanism for enabling legitimate European trade with Iran while the country is under strict American sanctions. 

Premium

Subscribe to the Financial Tribune to continue reading this article or Log in to your account if you are already a subscriber.

Find out more about our subsciption plans here.

Add new comment

Financialtribune.com