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Politics

EU financial mechanism, main agenda of JCPOA Joint Commission meeting

London, JCPOA Joint Commission convened in Vienna for the 11th time on Wednesday while the participating parties are reportedly due to discuss the details of a newly-registered EU mechanism � known as INSTEX � to facilitate trade with Iran despite US sanctions.

The meeting, which began at 9:40 o'clock local time, is being held at the level of political directors and deputy foreign ministers of Iran and E3+2 (Germany, the UK, France, Russia and China).

Secretary General of EU's External Action Service Helga Maria Schmid wrote in her twitter account earlier in the day that today's meeting is the first since the adoption of the INSTEX.

She said that both Iran and the E3+2 countries are committed to implementation of the JCPOA.

Abbas Araqchi, the Iranian deputy foreign minister who heads the Iranian delegation at the meeting, said that the parties to Iran nuclear deal have been seeking mechanisms to offset the impacts of the US illegal withdrawal from the deal and find solutions for keeping economic cooperation with Iran.

Noting that INSTEX was one of the main mechanisms proposed by Europe, Araqchi complained Europe's hesitation in introducing the mechanism, calling for more serious efforts with regard to implementing the already registered financial system.

Source: Islamic Republic News Agency - IRNA


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