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INSTEX – Trading with Iran
December 5 , 2019
1724 days
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- Belgium, Denmark, Finland, the Netherlands, Norway and Sweden have recently joined INSTEX.
- The ‘Instrument in Support of Trade Exchanges (INSTEX)’ trade mechanism was established by France, Germany and the United Kingdom in January 2019 to allow European entities to maintain trade with Iran.
- The mechanism has been designed to circumvent U.S. sanctions against trade with Iran by avoiding the use of the dollar.
- This Paris-based mechanism functions as a clearing house.
- It allows Iran to continue to sell oil and import other products or services in the exchange.
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