Feb 1, 2019, 10:37 AM
News Code: 83192125
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Belgium expresses support for INSTEX

Tehran, Feb 1, IRNA - Belgian foreign minister has declared his country's support for setting up of the Instrument in Support of Trade Exchanges (INSTEX) with Iran.

Belgium supports Iranian nuclear deal, also known as the Joint Comprehensive Plan of Action (JCPOA), as well as the European financial mechanism for trade with Iran, Didier Reynders said on the sidelines of the informal meeting of the European Council in the Romanian capital, Bucharest, local media reported.

He added that INSTEX was established to support the European companies to trade with Iran in spite of the US sanctions.

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

By implementing the Blocking Statute, the EU companies’ compliance with the 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 INSTEX.


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