EU's INSTEX mechanism facilitates first transaction with pandemic-hit Iran
Source: EURACTIV / GOV.UK
Germany’s Foreign Ministry confirmed on Tuesday (31 March) that the creation of the INSTEX mechanism has enabled the export of medical devices from Europe to Iran and thus completed the first transaction under the barter system.
The EU-Iran Instrument in Support of Trade Exchanges (INSTEX) was born as the brainchild of France, Germany and the UK in January 2019 as a special purpose vehicle to help EU companies do business with Iran and facilitate non-USD transactions to avoid breaking US sanctions against the country.
Iran’s economy has been battered since May 2018 when US President Donald Trump unilaterally withdrew the US from the 2015 nuclear deal, the Joint Comprehensive Plan of Action (JCPOA) – signed by Iran, China, France, Germany, Russia, UK, US, Germany – and reimposed sanctions on Tehran.
France, Germany and the UK confirmed on Tuesday (31 March) that INSTEX has successfully concluded its first transaction to facilitate the export of medical goods from Europe to to the pandemic-hit country.
Read more: https://www.euractiv.com/section/global-europe/news/eus-instex-mechanism-facilitates-first-transaction-with-pandemic-hit-iran/
Iran is ruled by bastards, forcing a dangerous ideology on their people, who does not support them. By breaking the US sanctions, the EU tries to ease the suffering - and maybe save the 2015 nuclear deal.
