EghtesadOnline: European efforts to launch a payments channel to facilitate trade with Iran suffered a fresh setback on Thursday when the German former diplomat who was set to take over as the new chief of INSTEX was forced to pull out at the last moment.
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: 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: 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: A food industry guild association has called on German firms to create a mechanism for trade with Iran to help mitigate the impact of tough United States economic sanctions.
EghtesadOnline: India’s government is holding talks with a new bank to facilitate trade with Iran and process Iran/India transactions. The new bank is set to work in tandem with UCO bank, according to Gaddam Dharmendra, India’s ambassador to Iran.
EghtesaadOnline: European countries, other than the founders of INSTEX, namely France, Germany and the UK, are willing to join the special purpose vehicle that facilitates trade with Iran, the economic and commercial counselor of Belgian Embassy in Iran said.
EghtesadOnline: A number of countries are holding negotiations with Europe to use their newly-registered special financial mechanism to continue their non-dollar trade with Iran.
EghtesadOnline: Foreign Minister Mohammed Javad Zarif said on Sunday that the newly established mechanism for trade with Iran has fallen short and urged Europe to show more determination to salvage the 2015 nuclear deal following the US exit.
EghtesadOnline: Three European signatories to the Iran nuclear deal—formally known as the Joint Comprehensive Plan of Action—namely Germany, France and Britain, have proposed to limit the scope of INSTEX, the long-awaited mechanism for facilitating trade with Iran, to pharmaceutical, medical devices and agrifood in its initial phase, Iran’s Ambassador in London Hamid Baeidinejad said on Twitter.