Baeidinejad: EU has no right to set conditions for INSTEX

IRNA – Iran’s Ambassador in London Hamid Baeidinejad said that the EU has no right to set conditions for implementing the Instrument in Support of Trade Exchanges (INSTEX), as the move is in line with enforcing commitments under JCPOA that was taken with delay.

In a tweet late on Sunday, he said that in the E3’s joint statement, it was not mentioned as a condition for Iran to join FATF bills; rather it is said it is an expectation from Iran.

On January 31, German, British and French foreign ministers in a news meeting in Bucharest officially announced registration of the European special financial mechanism known as the Instrument in Support of Trade Exchanges (INSTEX).

Part of the E3 joint statement reads that the INSTEX will function under the highest international standards with regards to anti-money laundering, combating the financing of terrorism (AML/CFT) and EU and UN sanctions compliance. In this respect, the E3 expect Iran to swiftly implement all elements of its FATF action plan.

The E3 underline their commitment to pursue further development of INSTEX with interested European countries to make this instrument in support of trade exchanges with Iran operational by following the steps set out above.