Feb 1, 2019, 4:10 PM
News Code: 83192517
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FM welcomes INSTEX

Ankara, Feb 1, IRNA – Turkish Foreign Minister Mevlüt Çavuşoğlu says Europe's setting up the Instrument in Support of Trade Exchanges (INSTEX) with Iran is a positive move.

Çavuşoğlu told Anadolu news agency that the US sanctions do not concern Iran only, rather cover wide spectrum of countries, ranging from Europe to Japan.

He asked the US to reconsider anti-Iran sanctions and said his country is against any 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.

In a news meeting in Bucharest late Thursday, German, British and French foreign ministers officially announced the commissioning of the European special financial mechanism, known as INSTEX.
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