Dec 16, 2019, 4:56 PM
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News Code: 83596842
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INSTEX’s implementation not enough for Iran, official says

Tehran, Dec 16, IRNA- Iran's Deputy Foreign Minister Abbbas Araqchi said that Iran's joining the FATF is an issue that the Expediency Council (EC) must ultimately decide about it on, and expressed the hope that this decision will be taken with utmost care.

Speaking to reporters Monday afternoon on the sidelines of Iran-Japan Business Relations Meeting, Araghchi referred to President Hassan Rouhani’s trip to Japan and stated that President Rouhani's trip to Japan will be an intensive one. He will be in Japan for less than 24 hours.

The main topic of the trip is to pursue bilateral relations, as well as consultations between the two countries on regional issues and international issues, the official added.

He went on to say that during Mr. Abe's visit to Tehran many consultations were held on a large scale and the consultations would continue in Tokyo.

The top Iranian diplomat pointed to the deployment of Japanese troops to the Persian Gulf, and said that during the visit the two sides would discuss all regional and international issues.

On the impact of the ratification of the FATF Conventions on Iran-Japan relations, Araghchi stated that Iran's accession to the FATF is a matter that the Expediency Council must ultimately decide on, and "we hope it is ultimately expedient".

Commenting on the visit of the head of INSTEX to Tehran and his meetings in Iran, the deputy foreign minister underlined that interactions between INSTEX and the corresponding Iranian entity is nearing its final stages. A Memorandum of Understanding has been recently signed between the two companies and "we hope to have the first interactions between the two companies in the coming days".

Of course, there are interactions between commercial companies, and INSTEX and Satna (the corresponding Iranian entity of INSTEX) coordinate financial transactions and exchanges and settle accounts so that no money transfers and banking issues are needed. There is a complex mechanism that "we hope will be implemented in the coming days".

In response to the question, would the implementation of INSTEX be enough for Iran? He said that it is definitely not enough, but it can cover part of the trade between Iran and Europe. This is not enough and does not reflect the European commitment to the 11 commitments they have accepted.

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