AsiaDiplomacyEuropeFeaturesGlobal IssuesNorth AmericaPoliticsSanctionsWorld

INSTEX: Europe sets up transactions channel with Iran

Germany, France and the UK have set up a payment channel with Iran called INSTEX, to help continue trade and circumvent US sanctions.

  • DW

Washington has cautioned EU nations against such actions.

Several European countries have set up a new transaction channel that will allow companies to continue trading with Irandespite US sanctions.

The announcement was made on Thursday.

The channel, set up by Germany, France and the UK, is called  INSTEX — short for “Instrument in Support of Trade Exchanges.”

“We’re making clear that we didn’t just talk about keeping the…

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Back to top button