INSTEX, the EU mechanism for bilateral transactions with Iran bypassing US sanctions, is not working as effectively as planned, which makes Moscow back Iran's demand to include a provision on oil exports in the document, Russian Foreign Minister Sergey Lavrov said after talks with Iranian counterpart Mohammad Javad Zarif
MOSCOW (Pakistan Point News / Sputnik - 08th May, 2019) INSTEX, the EU mechanism for bilateral transactions with Iran bypassing US sanctions, is not working as effectively as planned, which makes Moscow back Iran's demand to include a provision on oil exports in the document, Russian Foreign Minister Sergey Lavrov said after talks with Iranian counterpart Mohammad Javad Zarif.
"As far as I understand, [the INSTEX mechanism] is much less effective and comprehensive than planned. It is important for Iran to have this mechanism permit oil exports. We support this absolutely legitimate requirement, which is enshrined in the JCPOA," Lavrov said.
