Tag Archives | INSTEX

System to avert US Sanctions “ready soon”

From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iran Business News. German Foreign Minister Heiko Maas met Iranian President Hassan Rouhani and Foreign Minister Mohammad Javad Zarif in Tehran on Monday as part of European efforts to salvage the historic JCPOA nuclear pact and […]

INSTEX “Expected to Be Ready Soon”

INSTEX -a payment channel that the three EU signatories to the JCPOA have set up to maintain trade with Iran- will be ready soon, German Foreign Minister Heiko Maas said Monday. “This is an instrument of a new kind, so it’s not straightforward to operationalize it,” Maas told reporters in Tehran ahead of talks with […]

Mechanism Commensurate with INSTEX “to be Established Soon”

Iran’s Mechanism Commensurate with INSTEX to Be Established Soon: CBI Chief Governor of the Central Bank of Iran (CBI) Abdonnaser Hemmati said a mechanism commensurate with the European Union’s mechanism for trade with Iran, known as the Instrument in Support of Trade Exchanges (INSTEX), will be established in the country soon. “In the talks that […]

Up to 7000 German firms eager to Trade with Iran

By John Lee. The managing director of the German-Iranian Chamber of Commerce has reportedly said that up to 7,000 German business enterprises are believed to be seeking to continue trade with Iran. Michael Tockuss is quoted as saying: “Our estimate is that between 5,000 and 7,000 small- and medium-scale businesses are still after trade with […]

Iran “Never Accepts INSTEX’s Humiliating Conditions”

Iran Never Accepts INSTEX’s Humiliating Conditions: Judiciary Chief Iranian Judiciary Chief Ayatollah Sadeq Amoli Larijani said the country would never accept the “humiliating conditions” of the European Union’s financial mechanism for trade with Iran known as INSTEX, including Iran’s accession to the Financial Action Task Force (FATF). “After 9 months of procrastination and negotiation, Europeans […]

New Mechanism to Facilitate Trade with Iran

French, German and UK Foreign Ministers today announced the creation of ‘INSTEX‘, a new mechanism for facilitating legitimate trade with Iran in order to preserve the Iran nuclear deal. Joint statement by the E3 Foreign Ministers Jean-Yves Le Drian (France), Heiko Maas (Germany), Jeremy Hunt (United Kingdom): “France, Germany and the United Kingdom, in accordance […]