INSTEX not to fulfill all of Iran’s expectations

After the unilateral withdrawal of US from Iran Nuclear Deal, officially known as JCPOA (Joint Comprehensive Plan of Action), other signatories of the deal vowed to keep it alive. After months of delay, European signatories, i.e. Germany, UK, and France established a financial mechanism dubbed as INSTEX (Instrument in Support of Trade Exchanges) to facilitate trade ties with Iran and ditch US sanctions; however, the channel is yet to prove its true effectiveness.

“Still, many European countries delay joining INSTEX,” Falahatpisheh told Mehr News Agency on Sunday, adding, “only Germany, France and UK are after implementing the mechanism.”

The senior MP said that he has recently discussed the issue with representatives of some European states.

“Our trade transactions with Europe should not be limited to just these three countries,” he highlighted, adding, “although, Germany, France and UK are Europe’s strongest states, we expect that all European Union member states, not just the European Troika, will join INSTEX.”

“Although INSTEX does not meet all our expectations, every step taken by European countries in this regard is a blow to US’ unilateralism,” he also added.

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