INSTEX has no economic use for Iran: MP
Chairman of Iranian parliament's Economic Commission said that INSTEX (Instrument in support of trade exchanges) has no economic use for Iran.
Iran Press/Iran news: "Europeans downgraded their duties and commitments over the multilateral agreement with Iran. They could not meet expectations to ease off our banking transmissions and also in trade activities relating to oil and non-oil products," Reza Pour-Ebrahimi said in an exclusive interview with Iran press international news agency on Wednesday.
"Europeans were supposed to launch a financial channel called SPV in 2018 but unfortunately they did not implement it. Europeans have downgraded SPV to a new mechanism under the name of INSTEX which is less functional than SPV. It puts limitation to our international financial transmissions," Chairman of Iranian Parliament's Economic Commission noted.
"If Europeans will not change their policies toward Iran, there will be no economic benefits and outcome for the country. We want Europeans to do their commitments clearly. So I think Europeans are not reliable," Mohammad Reza Pour-Ebrahimi concluded. 101/201