Iran's STFI, proportionate to INSTEX, to be registered in near future

TEHRAN, Mar. 16 (MNA) – Governor of the Central Bank of the Islamic Republic of Iran Abdolnaser Hemmati said late on Fri. that a mechanism proportionate to EU's INSTEX channel, known as Special Trade and Finance Institute (STFI), will soon be registered in Tehran.

He went on to say that a financial mechanism, proportional to the channel introduced by three European countries including UK, France and Germany, will be registered in Tehran as soon as possible entitled Second Tier Financial Institution (STFI).

“Registration of the mechanism does in no way mean Iran’s waiting for operationalization of EU’s financial mechanism, rather, we will continue our strategy to finance projects in sanctions period, through the methods we have designed, especially through neighbors and other trade partners,” he noted.

Hemmati added that "representative of three countries and INSTEX president have been briefed about Iranian mechanism proportionate to that of the Europeans by Iranian sides during the talks and we expect Europe to take practical steps in this field.”

MA/4568833

News Code 143439

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