Feb 18, 2019, 2:55 PM
News Code 83213984
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FM spokesman censures slow progress of INSTEX

Tehran, Feb 18, IRNA - Iranian Foreign Ministry spokesman here on Monday criticized the slow progress of implementing the Instrument for Supporting Trade Exchanges between Iran and Europe (INSTEX) between Iran and Europe.

Speaking in his weekly press briefing, Bahram Qasemi said INSTEX is still in its early stages and urged the European side to implement it as soon as possible.

On January 31, Germany, France and the UK set up a payment channel with Iran called INSTEX, to help continue trade with Tehran and circumvent the US sanctions. The Paris-based transactions channel, named INSTEX - Instrument In Support Of Trade Exchanges, is run by a German national, and the three countries are shareholders in it.

The US is not happy with improving Iran-Europe relations, he said, adding that Washington is continuing its pressures and acts of sabotage against Tehran.

He added an expert meeting, attended by European officials and the Iranian foreign ministry and economic apparatus, would be held to review the INSTEX within days.

Qasemi pointed out that Iran has made it clear to Europe that the patience of the Iranian nation and government “is not limitless” so the Europeans should implement it very fast.

Elsewhere in his remarks, he noted that Europe’s financial mechanism for trade with Iran and the four Financial Action Task Force’s (FATF) bills in the country are not interrelated.

Qasemi underlined that the Islamic Republic of Iran is not a county which would yield to terms and conditions.
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