French embassy: Iran should create similar mechanism to fully implement INSTEX
By Trend
Iran should now create a similar mechanism for a full implementation of INSTEX (Instrument in Support of Trade Exchanges), the French embassy in Tehran tweeted, Trend reports.
According to the French embassy, INSTEX enables trade with Iran for European companies. There will be barters between importers and exporters without any direct capital flow.
The embassy added: "The Joint Comprehensive Plan of Action (JCPOA) is still in power. Despite the US withdrawal, France, Germany and the UK created INSTEX to maintain the deal."
"France, Germany and Britain are working on this mechanism to extend its reach for other European countries."
It was further stated that the International Atomic Energy Agency (IAEA) said in its 13 reports that Iran did not produce nuclear weapons.
The JCPOA was implemented on Jan. 16, 2016.
In May 2018, the US announced its withdrawal from the deal.
In November 2018, the US imposed sanctions against Iran.
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