Security com. chair warns of INSTEX plans to put all revenues in one place

TEHRAN, Jul. 03 (MNA) – Chairman of Parliament’s national security commission said Iran will not agree to EU’s trade mechanism if it is aimed at putting all of Iran’s oil revenues into one place which could be taken advantage of by US.

Mojtaba Zonnour, chairman of the Parliament’s National Security and Foreign Policy Commission, said the EU’s trade mechanism for Iran, dubbed INSTEX, will be welcomed only if it covers all of Iran’s economic relations that were defined within the framework of the nuclear deal.

We will not agree to the mechanism “if it aims to put all of Iran’s revenues into one place without giving us the freedom to make purchases of our own choice.”

He stressed that the management of the country’s oil revenues must be totally in Iran’s hands, adding “if they are planning to use INSTEX as a means to concentrate all of our oil revenues into this channel, this means that enemies are trying to control our financial resources and purchases.”

If Iran’s oil revenues are put into one place, this would give the US a chance to block Iran’s accounts under any pretext or try to take advantage of our resources, he warned.

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News Code 147156

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