Jun 11, 2019, 8:51 AM
Journalist ID: 1844
News Code: 83348036
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Envoy says US set to paralyze INSTEX to thwart European diplomacy

London, June 11, IRNA – Iranian ambassador to the UK Hamid Baeidinejad warned on Tuesday that US will paralyze the Instrument in Support of Trade Exchanges (INSTEX) by adopting counter-measures in a bid to thwart the EU diplomacy.

In his Twitter message which was released on Tuesday, Hamid Baeidinejad expressed hope for all to be aware of the fact that US economic terrorism against Iran posed the biggest threat to Iran nuclear deal known as the Joint Comprehensive Plan of Action (JCPOA) and the regional security.

US media 'Bloomberg' reported on Monday that the US is reviewing sanctions on the parallel mechanism of INSTEX in Iran.

The parallel INSTEX mechanism was established on April 22.

"The Trump administration is weighing sanctions against the Iranian financial body set up as a go-between for humanitarian trade with Europe, a move likely to sever the economic and humanitarian lifeline that France, Germany and the UK have sought to create for Tehran," Bloomberg said.

INSTEX was adopted by foreign ministers of the European trio on the sidelines of a European Union summit in the Romanian capital Bucharest on January 1.

INSTEX has been registered at the address of France's Economy and Finance Ministry in Paris. German banker Per Fischer has been appointed for a six months long to run it.

Earlier on Monday, German Foreign Minister Heiko Maas said that the three European countries are determined to support the JCPOA.

Of course, we cannot have a miracle, but we are trying to keep it up and, in this framework, we try to set up and run the INSTEX in the form of three European countries and beyond, he added.

Meanwhile earlier, High Representative of the Union for Foreign Affairs and Security Policy Federica Mogherini reiterated Europe’s adherence to the full implementation of the JCPOA, saying that INSTEX will get to run and have the first transactions hopefully in the next few weeks.

She also called on Iran to remain committed to the nuclear deal, saying, 'We continue to fully support the nuclear deal with Iran, its full implementation.'

''It has been and continues to be for us a key element of the non-proliferation architecture both globally and in the region.''

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