Iran Press/Iran news: Chairman and CEO of Iran's Bank Melli -BMI- (Iran's National Bank) Mohammad Reza Hosseinzadeh said launching INSTEX is a positive step in Iran-EU financial relations amid US sanctions against Iran.
In an exclusive interview with Iran Press on Saturday, Hosseinzadeh added: "As Iranian foreign ministry officials have indicated, we must wait for other levels of INSTEX, but launching INSTEX helps Iran-EU financial relations. Also by defying US-imposed sanctions against Iran, and proving their political independence, EU countries have taken a positive and constructive step."
The remarks by the Chairman and CEO of Iran's Bank Melli came on the sideline of a visit by foreign ambassadors in Tehran and head of ECO Cultural Institute to the BMI museum in a ceremony marking the 40th anniversary of the victory of the Islamic revolution.
Chairman and CEO of Iran's Bank Melli BMI, Mohammad Reza Hosseinzadeh, said: "Bank Melli Iran invited diplomats and guest from 20 countries, including ambassadors, cultural and business attaches from European and African countries also ECO-member countries (Economic Cooperation Organization) and Non-ECO countries and also head of ECO Cultural Institute (ECI) director manager Mohammad Mahdi Mazaheri on the occasion of 40th anniversary of the victory of the Islamic revolution."
Chairman of Iran's BMI added: "The purpose of this meeting was to introduce and familiarize foreign diplomats of various countries with Bank Melli Iran (BMI) as an Iranian Bank with 90 years of experience, with extensive experience and cooperation in European and African countries."
ON 31 January 2019, the European Union announced the launch of INSTEX ('Instrument in Support of Trade Exchanges) as a long-awaited direct payment mechanism meant to safeguard trade ties with Tehran in the face of US sanctions.
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