INSTEX
One year after launch, EU countries and Iran close first deal under INSTEX payment mechanism
The deal was for the supply of medical equipment to Iran. INSTEX was devised in 2018 by Germany, France and the UK as a special purpose vehicle to bypass the unilateral sanctions imposed by the US
European diplomats fail to take concrete steps to reassure Iran against US sanctions
The joint committee meeting in Vienna held on June 28 saw European diplomats launching INSTEX, a payment mechanism to continue trade with Iran
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