INSTEX must cover Iran's oil sales, variety of banking transactions

TEHRAN, Jun. 29 (MNA) – A member of Iranian Parliament Mostafa Kavakebian has criticized the EU trade mechanism for Iran dubbed ‘INSTEX,’ stressing the necessity of covering Iranian oil sales a variety of banking transactions by the financial tool.

“The continuation of the JCPOA with Europe must not be merely within the framework of the INSTEX which only covers non-sanctioned goods and acts in the realm of trade with Europe. But [the INSTEX] must include oil sales and a variety of banking transactions,” Tehran representative at the Iranian parliament wrote in a tweet on Saturday a day after the JCPOA joint commission meeting was held in Vienna, after which it was announced the EU trade mechanism for Iran to skirt US sanctions dubbed the INSTEX had become operational.

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News Code 147002

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