EU foreign policy chief Federica Mogherini welcomed creation of the Instrument in Support of Trade Exchanges (INSTEX) as channel for legitimate trade with Iran, describing it as a major step by the EU in line with adherence to Iran nuclear deal.
In a statement late on Thursday, she added that the instrument launched today will provide economic operators with the necessary framework to pursue legitimate trade with Iran, EU official website reported.
“I welcome today’s registration of INSTEX SAS (Instrument for Supporting Trade Exchanges), a Special Purpose Vehicle with France, Germany and the United Kingdom as initial shareholders,” the statement said.
Mogherini said the EU will continue to accompany the work of the Member States involved to make this vehicle operational as soon as possible in close coordination with the Iranian counterparts.
“We support their commitment to further develop INSTEX with interested European countries and open it, at a later stage, to economic operators from third countries.”
She stressed meanwhile EU’s commitment to the “full and effective implementation of the JCPOA in all its aspects as long as Iran continues to implement in full all its nuclear commitments, as set out by the agreement.”
On the other hand, she noted that the International Atomic Energy Agency (IAEA) has confirmed in thirteen consecutive reports that Iran is fully abiding by its commitments under the agreement.
Source: Iranian media