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INSTEX - Iran Trade Promotion Plan
February 5 , 2019
1992 days
753
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- Instrument in Support of Trade Exchanges (INSTEX) is a project of the three governments of UK, France and Germany to bypass US sanctions on Iran.
- INSTEX is a special payment system which will help to save the Iran nuclear deal by allowing Tehran to keep trading with EU companies despite Washington re-imposing sanctions.
- INSTEX would receive payments from companies that want to trade with Iran, either by receiving waivers for oil imports or permissible trade in goods like food and medicine.
- As a result, there would be no direct transfer of funds between Iran and European companies.
- This would theoretically insulate firms from U.S. penalties.
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