EghtesadOnline: The European Union says more nations, both from in and outside the EU, have announced willingness to join the financial mechanism, known officially as Instrument in Support of Trade Exchange (INSTEX), designed to trade with Iran.
EghtesadOnline: The new EU-Iran trading mechanism should be given a chance to work because its long-term benefits both in the fields of economy and politics outweigh its current shortcomings, a former diplomat said.
EghtesadOnline: The Special Trade and Finance Institute, the Iranian special trade mechanism set up to reciprocate the European Instrument in Support of Trade Exchange (INSTEX), is testing the payment channels for the import and export of goods, according to the CEO of the institute.
EghtesadOnline: The European mechanism, known as the Instrument in Support of Trade Exchange (INSTEX), to shield the country’s trade from crippling US sanctions won’t be useful if it does not allow oil sales, Iran’s oil minister said.
EghtesadOnline: French Finance Minister Bruno Le Maire said on Thursday he hopes the EU special trade mechanism, known officially as Instrument in Support of the Trade Exchange (INSTEX), completes a first limited transaction in the coming days.
EghtesadOnline: The governor of the Central Bank of Iran says the European Union’s newly-launched trade mechanism, known as the Instrument in Support of Trade Exchange (INSTEX), needs to be financed by importing oil from Iran to ensure its sustainable operation.
EghtesadOnline: Europe should take further measures to ensure that the special trade channel set up to keep trade with Iran afloat satisfies Tehran's demands, a senior diplomat said on Saturday, while stressing that the country does not intend to leave the nuclear agreement.
EghtesadOnline: The remaining signatories to the landmark nuclear deal between Iran and six world powers, formally known as the Joint Comprehensive Plan of Action, announced in a statement that the EU mechanism for trade with Iran is up and running.
EghtesadOnline: Progress was made in nuclear talks on Friday to salvage the 2015 nuclear deal, but it is not sufficient to stop Tehran from scaling back compliance with the accord, a senior Iranian official said, as Europe announced that a new mechanism to allow trade with Tehran had become operational.
EghtesadOnline: President of the Instrument in Support of Trade Exchange (INSTEX) recently conferred with economic and business authorities in Tehran on ways to remove barriers to launching the long-awaited European trade mechanism.