Since withdrawing from the Iran nuclear deal in May 2018, the US has imposed a range of sanctions on Tehran that are hurting Iran and countries across Europe. In response, Tehran has stopped complying with the terms of the nuclear agreement. France, Germany and the United Kingdom — or E3 for short — consequently triggered the framework’s dispute resolution mechanism in early January. Tehran has repeatedly stressed its willingness to honor the terms of the nuclear deal provided the framework’s other signatories stick to the agreement and allow its economy to get back on its feet. This puts the E3, who are eager to save the Iran nuclear deal, in a difficult situation: despite US sanctions, they aim to keep trading with Iran to garner its goodwill. On January 31, 2019, the foreign ministers of France, Germany and the UK announced the creation of the Instrument for Supporting Trade Exchanges (Instex) to facilitate legitimate trade with Iran without breaching US trade sanctions. The explicit purpose of the mechanism is to help salvage the Iran nuclear deal. Read more: What is the EU-Iran payment vehicle INSTEX? The Iran-EU trade initiative is headed by German diplomat Michael Bock and based at the… Read full this story
- EU says encouraging trade with Iran is crucial to nuke deal
- INSTEX chief to visit Iran for trade between Iran, EU
- Russia Calls on EU Big Three to Recognise Responsibility for Preserving JCPOA - Lavrov
- European Signatories on Iran Deal: UN Sanctions Will ‘Put Final Nail in JCPOA Coffin’ – Report
- Iran Warns it Will Keep Reducing Nuclear Deal Commitments if Europe Fails to Honour JCPOA
- EU urges Iran to respect nuclear deal, regrets US sanctions
- Iran’s Zarif Asks EU to ‘Just Show One’ Nuclear Deal Commitment They’ve Upheld in the Last Year
- UK cannot be treated as a second class citizen while it lingers in EU says Tusk, after German minister warns Britain it 'cannot drag out Brexit for a decade' and may not get another extension
- Iran and North Korea: The return of John Bolton's 'axis of evil'?
- Preventive measures to deal with trade defence
EU-Iran Instex trade channel remains pipe dream have 341 words, post on www.dw.com at January 31, 2020. This is cached page on wBlogs. If you want remove this page, please contact us.