Feb 4, 2019, 5:02 PM
News Code: 83197165
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Iranian MPs to discuss Iran-Europe INSTEX

Tehran, Feb 4, IRNA – Iranian Parliament will discuss Instrument in Support of Trade Exchanges (INSTEX) in the presence of Foreign Minister Mohammad Javad Zarif Monday evening, a senior legislator said.

Alireza Rahimi who is a member of the Parliament's National Security and Foreign Policy Committee told IRNA on Monday that Iranian MPs are to review INSTEX and EU's suggestions in a meeting with the attendance of Zarif, deputies in Economy Ministry, Industry, Mine and Trade and Central Bank of Iran.

He further pointed the special importance of INSTEX and said various issues will be reviewed with the Foreign Minister as well as two other officials.

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.

Earlier, Zarif in a Twitter message hailed implementation of INSTEX, saying 'Iran welcomes #INSTEX—a long overdue 1st step—in E3 implementation of May 2018 commitments to save JCPOA by ensuring dividends for Iranians after US’ illegal reimposition of sanctions. We remain ready for constructive engagement with Europe on equal footing & with mutual respect.'

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