European countries liquidate trade mechanism with Iran

Britain, France and Germany have released a joint statement on the private payment company INSTEX, which was established in 2019 to continue trade with Iran.

In the statement, it was indicated that Belgium, Denmark, Finland, France, Germany, the Netherlands, Norway, Spain, Sweden and England, which are shareholders of INSTEX, have decided to liquidate the company.

Recalling that INSTEX was established to facilitate legitimate trade between Europe and Iran, especially in products such as medicines and food, it was claimed that it tried to facilitate trade between Europe and Iran for 4 years.

IRAN BLOCKED

“Iran systematically and for political reasons prevented INSTEX from fulfilling its mandate,” the statement said. comment was included.

Recalling that Iran agreed to make only 1 transaction with INSTEX for the export of medical supplies from Europe to Iran in 2020, it was argued that Iran consistently and deliberately blocked various offers for transactions with EU countries, England and Norway.

The statement noted that Iran did not insist on establishing a relationship with the INSTEX company, adding: “The shareholders have come to the conclusion that there is no longer any basis for keeping INSTEX active.” the evaluation was done.

In the statement, which stated that INSTEX shareholders held an extraordinary general meeting on March 9, it was emphasized that all shareholders voted to dissolve INSTEX.
During Donald Trump’s presidency, the United States withdrew from the Iran nuclear deal and began reimposing sanctions on the country.

Given the decision, European countries established a special payment mechanism called INSTEX in order to prevent EU investors from being affected by the sanctions imposed by the US on Iran and maintain trade relations with the country. (AA)