MNA – EU foreign policy chief Federica Mogherini has stressed once again that the EU trade mechanism for Iran has become operational, adding that another seven European countries will join the creators of the INSTEX.

EU High Representative Federica Mogherini issued a statement on Sunday, saying that “two very important results” were achieved on Friday.

According to Mogherini, the first result was that “after years of negotiations, we reached a trade agreement with the Mercosur countries – Argentina, Brazil, Paraguay and Uruguay…which is a good news for European firms.”

The EU foreign policy chief also referred to the JCPOA joint commission meeting on Friday, saying that “on Friday, we also gave an important announcement on the defense of the nuclear deal with Iran: the instrument to support legitimate trade exchanges with Iran (called INSTEX) has become operational and is processing the first transactions.”

The European top diplomat further said that “together with the three countries that set it up – France, Germany and the UK – another seven European countries will join the mechanism. On Friday we also gathered the Joint Commission that works to guarantee the deal’s implementation.”