Relations with Iran are based on nuclear agreement which prepares the grounds for equal or unequal measures with Iran in compliance with European regulations, Jean-Yves Le Drian told reporters in response to a question about US wrongful act to blacklist the Islamic Revolution Guard Corps (IRGC) which is playing major role in Iran's economy.
He said that EU states adopted the Instrument in Support of Trade Exchanges (INSTEX) in the framework of cooperation among France, Germany and the UK which is to facilitate financial transactions for those companies and businessmen interested in trade ties with Iran.
Trump on May 8, 2018, withdrew from the JCPOA, which was condemned by other parties to the 2015 agreement.
INSTEX was adopted by foreign ministers of the European trio on the sidelines of a European Union summit in the Romanian capital Bucharest on January 1.
INSTEX has been registered at the address of France's Economy and Finance Ministry in Paris. German banker Per Fischer has been chosen for a period of six months to run it. Also, a senior UK diplomat is expected to head the Supervisory Board.
Earlier, INSTEX president Per Fischer visited Iran to hold talks with Iranian stakeholders in a bid to work out details of the payment channel.
Trump's choice has faced opposition of the international community namely Russia, China, the International Atomic Energy Agency (IAEA) and the European Union Foreign Policy Chief Federica Mogherini.
Director General of the IAEA Yukiya Amano underlined the fact that Iran has complied with its commitments under the nuclear deal.
Emphasizing the fact that the agency will continue to verify the non-diversion of nuclear material declared by Iran under its NPT Safeguards Agreement, the IAEA chief said 'The implementation in Iran of the Comprehensive Safeguards Agreement, Additional Protocol, and additional transparency measures under the JCPOA amounts to the most robust verification system in existence any here in the world.'
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