Iran Press/Iran news: Iran’s Ambassador in London, Hamid Baeidinejad said that the EU has no right to set conditions for implementing the Instrument in Support of Trade Exchanges (INSTEX), as the move is in line with enforcing commitments under Nuclear Deal that was taken with delay.
In a tweet late on Sunday, he said that in the E3’s joint statement, it was not mentioned as a condition for Iran to join the Financial Action Task Force (FATF) bills; rather it is said it is an expectation from Iran, Iran Press reported.
After announcing new round of US sanctions against Iran's oil, banking and shipping industries on 4 May 2018, Europe issued a statement highlighting significant progress in establishing an independent financial mechanism with Iran, which show importance of EU efforts to trade with Iran in the framework of the Joint Comprehensive Plan of Action (JCPOA).
On Jan 31, 2019 The European Union has announced the launch of a long-awaited direct payment mechanism meant to safeguard their trade ties with Tehran in the face of US sanctions.
Conditions or Expectations?
On January 31, German, British and French foreign ministers in a news briefing in Bucharest officially announced registration of the European special financial mechanism known as the Instrument in Support of Trade Exchanges (INSTEX).
Related News:
EU launches INSTEX to facilitate trade with Iran
Part of the E3 joint statement reads that the INSTEX will function under the highest international standards with regards to anti-money laundering, combating the financing of terrorism (AML/CFT) and EU and UN sanctions compliance. In this respect, the E3 expect Iran to swiftly implement all elements of its FATF action plan.
The E3 underline their commitment to pursue further development of INSTEX with interested European countries to make this instrument in support of trade exchanges with Iran operational by following the steps set out above.
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