Iran considers INSTEX as ‘first step’: envoy

TEHRAN, Feb. 10 (MNA) – Iranian Ambassador to Russia Mehdi Sanaei described the establishment of EU's trade mechanism for Iran (INSTEX) as a ‘first step’, adding that Tehran expects adoption of more practical measures from European countries to protect its interests.

Speaking to Russia-24 news channel, the Iranian envoy also touched upon the delay in the formation of financial mechanism - officially known as Instrument in Support of Trade Exchanges(INSTEX) - despite the fact that the International Atomic Energy Agency had repeatedly confrimed Iran’s adherence to the nuclear deal, formally known as Joint Comprehensive Plan of Action (JCPOA).

Iran may consider other options if JCPOA does not provide the required benefits for Tehran, Sanaei warned.

France, Germany and the United Kingdom issued a joint statement in late January on the creation of INSTEX, a Special Purpose Vehicle aimed at facilitating legitimate trade between European economic operators and Iran, in a bid to bypass the US sanctions and convince Iran to remain in the nuclear deal following the US unilateral withdrawal from the agreement.

According to the statement, the mechanism will focus initially on the sectors most essential to the Iranian population – such as pharmaceutical, medical devices, and agri-food goods, and will later expand to be open to economic operators from third countries who wish to trade with Iran.

The diplomat went on to say that Iran will continue to boost its defensive capabilities based on the country's deterrence doctrine, noting that the country has not waged any war against other nations during past centuries.

There are no limitations for Iran to produce and test missiles and Iran does not have such a commitment under the JCPOA, he added.

MAH/IRN83203327

News Code 142361

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