Deputy FM:

Iran warns Europe to fulfill its commitment over ‘INSTEX’

TEHRAN (defapress) – Iranian Deputy Foreign Minister Seyed Abbas Araghchi said Europe should take into serious consideration the implementation of its trade mechanism with Iran dubbed “INSTEX”.

News ID: 76029

Date: 07 March 2019 - 11:00

Araghchi made the remarks after Joint Comprehensive Plan of Action (JCPOA) joint commission meeting, was held in Austrian capital Vienna on Wed., co-chaired by Araghchi and European External Action Service Helga Schmid, with deputy foreign ministers of Germany, UK, France, Russia and China in attendance, which lasted for five hours.

In this joint commission meeting, European countries involved in the talks presented detailed explanations on EU trade mechanism with Iran entitled “INSTEX”.

Ever since, the sides to the JCPOA have been trying to come up with initiatives and mechanisms to compensate for the US’ withdrawal from the agreement, he said.

After US pullout from Joint Comprehensive Plan of Action (JCPOA), expert-level meetings were held between E3+2 and Iran in Brussels and New York and all parties involved in the talks vowed to continue cooperation with Iran in the financial field, guaranteeing to sell Iranian oil, gas and petrochemicals, etc.

Iran’s top nuclear negotiator added, “also, it was agreed to set up working groups in the fields of trade, energy, transport, financial-banking issues, so that other commitments of European countries involved in the talks would be implemented gradually.”

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