Six European states join special payment scheme for Iran

BRUSSELS, Belgium, Denmark, Finland, the Netherlands, Norway and Sweden Friday announced that they will become shareholders of the Instrument in Support of Trade Exchanges (INSTEX) with Iran to support the Iran nuclear deal.

The six countries in a joint statement released by the Belgian foreign ministry today said they attach “the utmost importance to the preservation and full implementation of the Joint Comprehensive Plan of Action (JCPoA) on Iran?’s nuclear programme by all parties involved.” The nuclear agreement was unanimously endorsed by the UN Security Council and is a key instrument for the global non-proliferation regime and a major contribution to stability in the region, they said.

“In light of the continuous European support for the agreement and the ongoing efforts to implement the economic part of it and to facilitate legitimate trade between Europe and Iran, we are now in the process of becoming shareholders of the Instrument in Support of Trade Exchanges (INSTEX) subject to completion of national procedures,” noted the statement.

“In this context, it is crucial for the Islamic Republic of Iran to return without delay to full compliance with the terms and provisions of the nuclear agreement,” it stressed.

INSTEX was established by France, Germany and the United Kingdom in January 2019 to facilitate European companies to trade with Iran after the US imposed sanctions on Tehran following Washington’s withdrawal from the Iran nuclear deal last year.

Source: Kuwait News Agency