Swiss embassy calls for implementation of INSTEX

IRNA – Swiss embassy in Tehran called for implementation of the European Special Purpose Vehicle for trade with Iran, known as INSTEX, to ease shipment of humanitarian products to the Islamic Republic of Iran.

In a Twitter post on Monday, the Embassy said that Switzerland is doing its utmost to put into practice the new financial channel to ease shipment of medical and foodstuff products and equipments through partnership of all sides.

It noted that the Swiss government has offered various plans to run the financial channel through extensive talks with Iran and the US.

The E3 Foreign Ministers Jean-Yves Le Drian (France), Heiko Maas (Germany) and Jeremy Hunt (United Kingdom) issued a joint statement on the creation of INSTEX, that is aimed at facilitating legitimate trade with Iran, February 1.

INSTEX will support legitimate European trade with Iran, focusing initially on the sectors most essential to the Iranian population-such as pharmaceutical, medical devices and agri-food goods. INSTEX aims in the long term to be open to economic operators from third countries who wish to trade with Iran and the E3 continue to explore how to achieve this objective.