Iran and Switzerland will soon open a financial channel to exchange humanitarian goods, a member of the Iranian Chamber of Commerce and Industry Ferial Mostofi told the ISNA news agency on Wednesday
MOSCOW (Pakistan Point News / Sputnik - 04th December, 2019) Iran and Switzerland will soon open a financial channel to exchange humanitarian goods, a member of the Iranian Chamber of Commerce and Industry Ferial Mostofi told the ISNA news agency on Wednesday."According to Swiss ambassador to Iran, Markus Leitner, the financial channel will be launched in near future," Mostofi said.
She noted that the system would be used for exchanging humanitarian goods such as medicines, medical equipment and food.
The financial channel is not meant to replace the Instrument in Support of Trade Exchanges (INSTEX) and will have different mechanism if it becomes operational, Mostofi added.
INSTEX was set up by France, Germany and the United Kingdom in January as a way of continuing business operations with Iran and ease non-dollar trade in the wake of renewed US sanctions that are part of the US' policy of "maximum pressure" on Tehran.
