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Foreign Affairs

Tehran to host new round of talks on INSTEX Tuesday

Tehran, New round of talks will be held between Iranian expert delegation and representatives of France, Germany and the UK as well as the EU on the implementation of the Instrument in Support of Trade Exchanges (INSTEX).

The upcoming meeting is to discuss the latest conditions of INSTEX and its parallel institutions in Iran and also explore the ways economic activists can take advantage of this mechanism and also work out future steps for developing INSTEX to other trade areas.

Officials from Iran's Foreign Ministry and other related bodies, European representatives and also President of INSTEXThe event will participate in the talks.

Earlier, France's diplomatic mission in Tehran tweeted that 'E3 Heads of Missions welcome INSTEX's president, Per Fischer, to Tehran. Important step to discuss with Iranian counterparts how to make the EUIran trade mechanism operational!'

Following the US' withdrawal from Iran nuclear deal, the EU took stance against the move by undertaking projects to help preserve the international pact.

By implementing the Blocking Statute, the EU companies' compliance with the US foreign sanctions was annulled.

In a news meeting in Bucharest recently, German, British and French foreign ministers officially announced the commissioning of the European special financial mechanism, known as INSTEX.

Meanwhile, earlier, Iranian Foreign Ministry in a statement called on the European Union to maintain constructive interaction with Iran based on mutual respect and interests.

In a statement which was released in response to EU's recent statement on Iran's commitment to the nuclear deal also known as the Joint Comprehensive Plan of Action (JCPOA), Foreign Ministry said the experience of relations between Iran and the European Union especially recent ones shows that there are various capacities and opportunities for the two sides to develop cooperation.

EU in its statement supported Instrument in Support of Trade Exchanges (INSTEX) and announced its member states' positions as regard regional developments.

The statement expresses EU's positions over several issues including INSTEX, Iran's plans on strengthening its defensive capabilities, regional situation, and human rights.

While hailing EU's positive stances mentioned in its statement regarding Iran especially on the JCPOA, the Islamic Republic of Iran has stated certain critiques over the positions taken in the EU statement.

Source: Islamic Republic News Agency IRNA

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