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FM: Iran announces setting up institutes parallel to INSTEX

Tehran, Foreign Minister Mohammad Javad Zarif said that Iran has informed the European Union (EU) of establishing institutions parallel to the Instrument in Support of Trade Exchanges (INSTEX).

Addressing a meeting with Chairman of the Italian Senate's Foreign Policy Commission Vito Rosario Petrocelli, Zarif referred to strong ties between two countries over the past 40 years.

He expressed the hope for incumbent Italian government to continue good economic relations with Iran.

Meanwhile, Petrocelli pointed to longstanding relations between Iran and Italy, and called for preserving and reinforcing ties.

He added that IranItaly parliamentary friendship group has been established in Italian Senate.

Elsewhere in his remarks, Petrocelli sympathized with Iranian government and people over the recent deadly floods.

He also promised sending humanitarian aid to floodstricken people.

During the meeting both sides discussed international development, regional issues and development in North Africa.

On May 8, 2018, Trump withdrew from the JCPOA, but his move was condemned by other parties to the 2015 agreement.

INSTEX was adopted by foreign ministers of the European trio on the sidelines of a European Union summit in the Romanian capital of Bucharest on January 1.

INSTEX has been registered at the address of France's Economy and Finance Ministry in Paris. German banker Per Fischer has been chosen for a period of six months to run it. Also, a senior UK diplomat is expected to head the Supervisory Board.

Earlier, INSTEX president Per Fischer visited Iran to hold talks with Iranian stakeholders in a bid to work out details of the payment channel.

Trump's choice has faced opposition of the international community; namely Russia, China, the International Atomic Energy Agency (IAEA) and the European Union Foreign Policy Chief Federica Mogherini.

Director General of the IAEA Yukiya Amano underlined the fact that Iran has complied with its commitments under the nuclear deal.

Emphasizing the fact that the agency will continue to verify the nondiversion of nuclear material declared by Iran under its NPT Safeguards Agreement, the IAEA chief said, 'The implementation in Iran of the Comprehensive Safeguards Agreement, Additional Protocol, and additional transparency measures under the JCPOA amounts to the most robust verification system in existence any here in the world.'

Source: Islamic Republic News Agency IRNA

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