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: 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 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: Ambassadors from France, Germany and the UK to Iran released a joint statement on Friday underscoring the commitments of their governments to launch the first transaction soon with Iran using the much-touted EU financial mechanism.
EghtesadOnline: An Italian Foreign Ministry official says his country is reviewing details about the newly developed financial mechanism known as INSTEX and is considering joining it.
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: Oil trade is the cornerstone of Europe’s financial mechanism to maintain business ties with Iran and the system cannot operate without covering the sale of Iranian crude, Foreign Minister Mohammed Javad Zarif said.