Feb 1, 2019, 12:49 AM
News Code: 83191965
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Russia welcomes setting up of INSTEX

Moscow, Feb 1, IRNA - Russian Ambassador to the EU Vladimir Chizhov welcomed establishment of the Instrument in Support of Trade Exchanges (INSTEX), hoping that the vehicle would be able to help maintain nuclear deal known as JCPOA.

He further noted that the function of the special instrument will be discussed during the upcoming meeting of the JCPOA Commission.

Russian envoy also hoped that despite the US exit from Iran nuclear deal, the special vehicle would be able to remove obstacles in the way of trade with Iran.

Following US withdrawal from Iran nuclear deal, EU took stance against the move by undertaking projects to help preserve the international pact.

By implementing the Blocking Statute, EU companies’ compliance with US foreign sanctions was annulled.

Late on Thursday, German, British and French foreign ministers in a news meeting in Bucharest officially announced the commissioning of the European special financial mechanism known as the Instrument in Support of Trade Exchanges (INSTEX).


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