Finland, Belgium, Denmark, Netherlands, Norway, Sweden to Join INSTEX
TEHRAN (Tasnim) – The Finnish foreign ministry announced on Friday that Finland, Belgium, Denmark, Netherlands, Norway, and Sweden will join INSTEX - a payment channel that the three EU signatories to the JCPOA have set up to maintain trade with Iran.
"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,” the ministry said in a joint statement, according to Sputnik.
It added, “We are now in the process of becoming shareholders of the Instrument in Support of Trade Exchanges (INSTEX) subject to completion of national procedures”.
INSTEX is a payment channel that France, Germany and Britain have devised to continue trade with Tehran and bypass the US embargoes.
The European payment channel, however, has not brought about any change in Iran’s foreign trade.