INSTEX's Long-Term Benefits Outweigh Current Shortfalls

The new EU-Iran trading mechanism should be given a chance to work because its long-term benefits both in the fields of economy and politics outweigh its current shortcomings, a former diplomat said. 
Iranian authorities should adopt a "strategic" stance toward INSTEX, or the Instrument in Support of Trade Exchanges, as the country's interests do not lie in the unraveling of the 2015 nuclear deal, Nosratollah Tajik also told ISNA in a recent interview.
At a recent meeting in Vienna, Austria, the European Union announced that the special purpose vehicle for non-dollar trade with Iran—designed to circumvent US sanctions and keep the nuclear accord alive—had become operational and the first transaction is being completed.