INSTEX shows EU commitment to JCPOA: Top lawmaker

IRNA – Establishment of the Instrument in Support of Trade Exchanges (INSTEX) between Iran and Europe proved the European Union (EU) commitment to the Iranian nuclear deal, said a senior lawmaker on Friday.

Registration of INSTEX shows the EU willingness to preserve the Iranian nuclear deal, known also as the Joint Comprehensive Plan of Action (JCPOA), Deputy Speaker of Iran’s parliament, Ali Motahari said.

He made the remarks in an exclusive interview with the Islamic Republic News Agency (IRNA).

The Europeans want to have an independent policy and proved the fact that they are not devoted followers of the US policies, he added.

The MP lauded the move by EU, noting that INSTEX can facilitate economic relations between Iran and Europe.

Following US withdrawal from Iran nuclear deal, EU took stance against the move by undertaking projects to help preserve the international pact.

By implementing the Blocking Statute, EU companies’ compliance with US foreign sanctions was annulled.

In a news meeting in Bucharest late Thursday, German, British and French foreign ministers officially announced the commissioning of the European special financial mechanism known as INSTEX.