EghtesadOnline: Tehran is not satisfied with the snail’s pace of transactions via the oft-publicized Iran-EU trade channel, said Gholamreza Ansari, deputy foreign minister for economic affairs.
EghtesadOnline: The first transaction conducted under the European trade mechanism to bypass American sanctions is so small that its effect on Iranian economy is insignificant, a lawmaker said.
EghtesadOnline: The eventual operationalization of the European financial channel is welcomed by Iran, but does not meet the country’s expectations, a top diplomat said.
EghtesadOnline: European companies exported medical supplies to Iran as part of a mechanism set up to circumvent US sanctions.
EghtesadOnline: Exactly one year ago the foreign ministers of France, Germany and the UK created the so-called Instrument for Supporting Trade Exchanges (INSTEX) to facilitate legitimate trade with Iran without violating the US economic sanctions. Since then absolutely nothing has happened.
EghtesadOnline: Michael Bock, head of Iran-EU trade channel, known as the Instrument In Support of Trade Exchange (INSTEX), will visit Iran on January 12 to discuss the latest developments on the long-delayed mechanism.
EghtesadOnline: A decision by six more European countries to join the EU financial mechanism set up to facilitate trade with Iran is aimed at creating optimism and will unlikely be effective, a former diplomat says.
EghtesadOnline: Six European countries, namely Belgium, Denmark, Finland, the Netherlands, Norway and Sweden announced in a joint statement on Friday their intent to join the Instrument in Support of Trade Exchanges (INSTEX), designed to facilitate trade with Iran.
EghtesadOnline: Eight more countries have decided to join the financial mechanism for trade with Iran, in addition to states that have been part of the mechanism, said Nathalie Tocci, an aide to EU High Representative Federica Mogherini.
EghtesadOnline: The new head of INSTEX, Michael Bock, who was in Tehran this week, says some small European banks are willing to join the barter trade mechanism.