Oct 15, 2019, 12:01 AM
Journalist ID: 2078
News Code: 83517669
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INSTEX proves to be failure: Russian official

Moscow, Oct 14, IRNA - Europe’s financial channel INSTEX has proved to be a failure, said a senior Russian official. 

“INSTEX has proved its failure. I can remember that so far three western chiefs of the channel have changed. These changes are significant and are meaningful,” said Russia’s Permanent Representative to the European Union (EU) Vladimir Chizhov. 

He went on to criticize the three European signatories to the Iran nuclear deal, also known as the Joint Comprehensive Plan of Action (JCPOA), for their “dual” approach towards Iran. 

“On the one hand they say that they support JCPOA. On the other, they act differently. I mean Europeans’ statements about the Strait of Hormuz and its missile programme and others,” Chizhov mentioned. 

Instrument in Support of Trade Exchanges (INSTEX) was set up by France, Germany and the UK to facilitate trade with Iran in the wake of the US unilateral economic sanctions.

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