Finland, Belgium, Denmark, the Netherlands, Norway and Sweden have joined the European Instrument in Support of Trade Exchanges (INSTEX) for facilitating trade with Iran amid Washington's sanctions, the joint statement, released on the website of the Finnish Foreign Ministry on Friday, said
HELSINKI (Pakistan Point News / Sputnik - 29th November, 2019) Finland, Belgium, Denmark, the Netherlands, Norway and Sweden have joined the European Instrument in Support of Trade Exchanges (INSTEX) for facilitating trade with Iran amid Washington's sanctions, the joint statement, released on the website of the Finnish Foreign Ministry on Friday, said."We are now in the process of becoming shareholders of the ... INSTEX ... subject to completion of national procedures. INSTEX was established by France, Germany and the United Kingdom in January 2019," the statement read.
"Belgium, Denmark, Finland, the Netherlands, Norway and Sweden attach the utmost importance to the preservation and full implementation of the Joint Comprehensive Plan of Action (JCPoA) on Iran's nuclear programme by all parties involved," the statement read on.
According to the statement, it is "crucial" for Iran to return to full compliance with the JCPOA.
INSTEX was set up for continuing business operations with Iran and ease non-dollar trade in the wake of renewed US sanctions following Washington's withdrawal from the JCPOA in May 2018.
