We expect more from Finland than joining INSTEX: parl. delegation

TEHRAN, Jun. 01 (MNA) – An Iranian parliamentary delegation in Finland says Tehran’s expectations from Helsinki goes beyond the European country’s activities within the special purpose vehicle INSTEX, which aims to facilitate trade between the EU and Iran.

An Iranian delegation comprising parliamentary members from the women and family fraction met and held talks with Deputy Governor of Bank of Finland, Marja Nykänen, on Saturday in Helsinki, Finland.

During the meeting with the Finnish side, the chairwoman of the Iranian parliamentary fraction, Parvaneh Mafi, highlighted the importance of a banking system in economic transactions between the two countries, adding “our expectations from Finland goes beyond their membership in the INSTEX. Finland should be one of the shareholders of this trade mechanism.”

The Instrument in Support of Trade Exchanges (INSTEX) is EU's special payment channel with Iran. Which was announced by the EU in January to secure trade with Iran and skirt US anti-Iran sanctions after Washington pulled out of the 2015 Iranian nuclear deal (JCPOA) in May 2018.

Iran in turn has set up a matching channel called Special Trade and Finance Instrument (STFI). The Islamic Republic had given about a year to Europeans to implement the mechanism, and now expects them to implement the arrangement. The mechanism, which will deal essentially with food and medical trade, is struggling to become operational.

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