Larijani's Top Aide:
Joining of European states to INSTEX is like an empty credit card
A senior foreign policy adviser to the Iranian Parliament Speaker has said that joining of European states to the Instrument in Support of Trade Exchanges (INSTEX) is like an empty credit card.
Iran Press/ Iran news: "Joining of European states to INSTEX is good news." Hossein Amir-Abdollahian said in a tweet on Monday, adding: "It's now, however, an empty credit card, that in case of recharging in the future, it's not known whether it will work for Iran."
Joining of European states to #INSTEX is a good news. Europe ok'd to buy Iran oil & trade w/INSTEX. It's now, however, an empty credit card, that in case of recharging in future, it's not known whether works for Iran. That's the rudeness of US/Europe threatening Iran for nothing. pic.twitter.com/shyV9eRBNw
— H.amirabdollahian (@Amirabdolahian) 1 December 2019
"That's the rudeness of US/Europe threatening Iran for nothing," Amir-Abdollahian highlighted.
Belgium, Denmark, Finland, Netherlands, Norway, and Sweden announced in a joint statement on Friday that they are in a process of joining the Instrument in Support of Trade Exchanges (INSTEX) for helping the E3 countries, the European party of Iran's nuclear deal or JCPOA, to facilitate legitimate trade between Europe and Iran.
INSTEX was set up to try to enable legitimate trade with Iran to continue without falling foul of US sanctions.
After a series of negotiations between Iran and EU officials to implement INSTEX, Iran declared that E3 can't secure Iran's interests in the economic sphere and no practical measures have been undertaken to launch the mechanism.
Iran, then, notified its remaining partners in the deal that it would suspend the implementation of some of its commitments as a 'wake-up call' to spur the European signatories to honour their end of the bargain.