Russia will help Iran with oil if EU's payment channel not launched: Ryabkov

TEHRAN, Jun. 21 (MNA) – The Russian Deputy Foreign Minister Sergei Ryabkov has said that his country will help Iran with its oil sales if the EU trade mechanism is not launched.

Russia is ready to help Iran with oil exports and its banking sector if the EU's INSTEX trade mechanism is not launched, Interfax news agency cited Russian Deputy Foreign Minister Sergei Ryabkov, Reuters reported on Friday.

US unilaterally withdrew from the Iran Nuclear Deal, formally known as JCPOA (Joint Comprehensive Plan of Action), back in May 2018, vowing to increase pressure against Iran by re-imposing tough sanctions. In their most recent measure, US officials announced that they will not issue any further waivers for countries who want to import Iranian oil, meaning that every state which buys Iranian oil is going to be punished by the US.

This is while EU signatories of JCPOA have not yet implemented necessary measures to counter US sanctions. In late January 2018, Europe announced the establishment of a special trade mechanism dubbed as INSTEX (Instrument in Support of Trade Exchanges) in a bid to save JCPOA after the withdrawal of the United States. The mechanism, which is yet to prove its effectiveness, is said to initially cover trades of food, medicine and medical devices and to gradually include other areas.

Meanwhile, Ryabkov has been reported as telling RIA Novosti that the United States is intentionally seeking to escalate the tensions in the Middle East region, calling on all sides to show restraint in the current situation amid rising tensions between Tehran and Washington.


News Code 146718


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