No transaction conducted via INSTEX yet: Iran envoy

TEHRAN, Mar. 04 (MNA) – Iran's Ambassador to Russia Kazem Jalali criticized the lack of commitment of the European parties to the 2015 nuclear deal, saying that no transaction has been conducted yet via their proposed trade mechanism with Iran (aka INSTEX).

In a meeting with Chairman of the Foreign Affairs Committee of the Russian Federation Council Konstantin Kosachev on Tuesday, Jalali said the Europeans created the Instrument in Support of Trade Exchange (INSTEX) but no transaction has ever been made via the system.

INSTEX was designed by the European Union to facilitate legitimate trade with Tehran. It was introduced on January 31, 2019 by France, Germany and Britain, the three countries party to the 2015 nuclear deal.

The plan, proposed long after the US imposed sanctions on Iran, is yet to provide Iran’s interests and fulfill the Europeans’ promise to help facilitate trades with the Islamic Republic.

During the meeting, Jalali also referred to the high close parliamentary relations between the two countries, adding that bilateral ties should further improve in various fields including economy and trade.

He underlined that the private sectors of Iran and Russia should cooperate to boost their capabilities and potentials.

Kosachev, for his part, highlighted the significance of parliamentary relations between Tehran and Moscow and called for expanding the ties in different economic sectors.

MNA/IR83700601

News Code 156308

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