Iran: INSTEX registration proves EU resistance against US unilateralism

Tehran, Jan 31, IRNA – Registration of the Instrument in Support of Trade Exchanges (INSTEX) between Iran and Europe proved resistance of the block against the US unilateralism, said an Iranian foreign ministry official on Thursday.

INSTEX registration is a positive move by the European Union, Director General of the Peace and International Security Department at Foreign Ministry Reza Najafi told the Islamic Republic News Agency (IRNA).

Najafi said the INSTEX registration should be regarded as the first step on Europe part in support of the Iran nuclear deal, formally known as the Joint Comprehensive Plan of Action (JCPOA), which is hoped to be operational.

'We should wait and see how much the instrument will be used in the phase of execution and to what extent companies can use it.'

INSTEX, set up by France, Germany and Britain, aims to facilitate Iran's global trade.

EU foreign policy chief Federica Mogherini has also welcomed the INSTEX.

Mogherini said Germany, France and Britain will in the next few hours announce official inauguration of the INSTEX and that she will in a statement announce strong support for the mechanism.

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