INSTEX registers its 1st transaction

TEHRAN, Mar. 31 (MNA) – European mechanism, known as the Instrument in Support of Trade Exchange (INSTEX), eventually concluded its first transaction, facilitating the export of medical goods to Iran.

According to the German foreign ministry statement, the three European signatories of the JCPOA, E3, “confirm that INSTEX has successfully concluded its first transaction, facilitating the export of medical goods from Europe to Iran.”

“Now the first transaction is complete, INSTEX and its Iranian counterpart STFI will work on more transactions and enhancing the mechanism."

“These goods are now in Iran."

However, the statement gave details neither of the goods nor of who was involved in the transaction. 

Iran has been hard hit by the coronavirus pandemic, but supplying medical goods to Iran already was a concern before the outbreak.

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 to provide Iran’s interests and fulfill the Europeans’ promise to help facilitate trades with the Islamic Republic.

MNA/PR

News Code 157141

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