Europe Has No Excuse to Delay Activation of INSTEX

Europe has no excuse for delaying the operationalization of its special payment channel, as Iran has now established the corresponding entity, Iran's top diplomat said. 
The European financial mechanism known as INSTEX (Instrument in Support of Trade Exchanges) is aimed at facilitating trade with Iran by circumventing sanctions reimposed by the United States after it pulled out of the 2015 nuclear deal last year. 
After months of delay, the payment system was finally registered jointly by France, Germany and Britain in late January, but its activation is pending the operational details and the establishment of an equivalent entity in Iran.