June 28, 2019

DONALD WHO?:

EU mechanism for trade with Iran 'now operational' (Deutsche-Welle, 6/28/19)

The European Union announced that its INSTEX mechanism to facilitate trade with Iran was up and running on Friday.

"France, Germany, and the United Kingdom informed participants that INSTEX had been made operational and available to all EU member states, and that the first transactions are being processed," said an EU statement.

INSTEX, which stands for Instrument in Support of Trade Exchanges, is a payment system that will allow companies to trade with Iran despite harsh US sanctions. It will function as a diplomatic shield allowing the exchange of goods without requiring direct transfers of money between Iran and EU companies.

Posted by at June 28, 2019 5:53 PM

  

« A CRISIS OF CONFIDENCE: | Main | THE SHI'A CRESCENT VS OUR WAHHABI/SALAFI ENEMY: »