EU will work with Iran through INSTEX

ID : N-4248 Date : 2019/02/03 - 11:38

(Persia Digest) - Deputy speaker of Iran's Parliament Ali Motahari said Sunday the launch of the INSTEX mechanism represents the will and determination of Europe to keep up with the nuclear deal, but the final judgment will make sense after it is implemented.

Motaharri pointed to a European foreign minister's comment that the implementation of this mechanism is tied to approving FATF's requirements in Iran, saying "this is a kind of interference in Iran's domestic affairs, asking Iranian Foreign Minsitry to give them a crushing response."

Mehr News reports that three European countries, France, Germany, and the UK, announced the establishment of a mechanism to help facilitate trade with Iran, which demands economic benefits for staying in the 2015 nuclear deal.

The new proposal, labeled as “Instrument in Support of Trade Exchanges” (INSTEX) will allow Iran to barter for European goods in transactions that steer clear of financial networks and do not rely on the US dollar.


Read more:

EU takes stand for trade with Iran

German businessmen welcome INSTEX for Iran

Instrument in Support of Trade Exchanges for Iran


In the meantime, the European trio, France, Germany, and the UK has decisively demanded Iran to comply with the Financial Action Task Force (ATF) requirements, if it seeks rapid implementation on INSTEX.

Elsewhere in his remarks, Motahari said Palestine's liberation will only be achieved through the unity among the Muslim countries, and there should be no division between the Islamic world and especially between Shias and Sunnis."

Motahari underlined that "today, we all must follow the Leader of Islamic Revolution with the unity and, try to bring US and Israeli regime to their knees make the  kneel with efforts and resistance."

This mechanism, he stressed, is advantageous for EU, allowing it to be independent from the United States, and breaking the dominance of the dollar.

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