Speaking to ILNA and touching upon the effect of shutting down od INSTEX by Europe on trade between Iran and Switzerland, Nezam Mafi said that in fact INSTEX due to sanctions restrictions has been a pretext for lack of free trade and in the current condition is makes no difference. He added that INSTEX was an idea which was never materialized practically and it was the outcome of a restriction and one could not expect it to ease economy and free trade, he added therefore this mechanism is not so much important because in the current climate, the INSTEX structure also was unable to do special thing to boost the trade volume.

Established in January 2019 by the United Kingdom, France, and Germany, INSTEX’s shareholders later came to include the governments of Belgium, Denmark, the Netherlands, Finland, Spain, Sweden, and Norway.

On exports of oil products to Switzerland, he said that the exports of oil products in exports are not significant because due to the banking problems due to the U.S. sanctions, Swiss companies do not work with Iran.

On the possibility of gas export to Switzerland, he said that currently Switzerland needs gas considerably and Iran had signed an agreement with Switzerland for gas exports which was not implemented.

On the trade relation between Switzerland and Iran, Nezam Mafi said that the trade relation between the two states is old and their economy are complementary because technology and different economic process of Switzerland are welcomed in Iran and Swiss companies have active presence in Iran. He added that Iran’s market is known for Swiss companies and if one day we can export gas and oil products, Switzerland can be a suitable market.

He noted that the major trade of Iran with Switzerland is grain, medical equipment and medicines and some famous Swiss testing, inspection and certification companies like Cotechna are working in Iran.

He added that Iran is the only country which can export gas to Europe with direct pipeline to replace Russia’s gas but in the geopolitical and political world it is impossible otherwise Iran can replace Russia and political problems do not it happen.

Nezam Mafi said that recent sanctions imposed by Europe has not too much impact on Iran-Switzerland trade, adding that because Swiss officials do not make decisions based on the domestic issues of the countries but due to the EU’s approach especially Germany’s approach to these issues, Switzerland will be forced in the future to adopt policies in compliance with EU.

He added that although Switzerland is not an EU member state, it cannot act against the move of Europe because European countries are Switzerland’s important trade partner despite neutrality of this country. Therefore Switzerland will be affected by the policies of EU and Germany, he added.

The post Shutting Down of INSTEX Not So Important appeared first on Iran News Daily.

Speaking to ILNA, Sharif Nezam Mafi said the U.S. should return to the JCPOA and the FATF dispute should also be resolved in order that banks could work with most of the banks in the world and Iranian businessmen could continue their trade with lesser costs.  He further said but this will also need a range of time because 3 years and a half years later the U.S. will hold another presidential election and one should wait and see whether Donald Trump or his fans will come to power or not.

On the failure of the financial mechanism of INSTEX, he said the reason which made the mechanism fail was that European parties launched the mechanism finally to buy time and not to have banking transactions. He further said so it is clear that there has been no other reason for the failure but the passiveness and lack of political will by the European parties.

Sharif Mafi noted that four years are spent on a financial system and ultimately it does not function is strange especially regarding the Europeans which have modern and state-of-art banking systems. He added perhaps, in the beginning, they had decided to launch the mechanism to resolve the problems but due to its complication they decided to let it alone and it indicates that there has been no strong will behind it.

On resolving the banking problems of Iran, he said first the U.S. should return to the JCPOA and the problem of FATF is solved in order that our banks can work with international banks and businessmen can reduce the cost of their trade but it needs a range of time because 3 years and a half later Trump and his fans may come to power and if it happens, again Iran will see more pressure on its banking system.

Sharif Mafi went on to say that since JCPOA has not been approved by in the U.S. Senate and it is just a government executive treaty if Joe Biden returns to the JCPOA, the next president may once again pull out of it and we have seen how Trump easily did it once.

He said he thinks one of the demands of Iranians from the U.S. will be the approval of the JCPOA in the Senate for more guarantee on its implementation because if the JCPOA is to be left or rejoined every four years after arrival or departure of a president in the U.S., nobody will take it seriously.

On Switzerland’s Humanitarian Trade Agreement (SHTA), he said since the restrictions of the U.S. and FATF are valid, the SHTA is still working, adding that SHTA is not an institute like INSTEX but it is a channel for issuing a certain series of licensees. He noted if Biden rejoins the JCPOA or the FATF problem is resolved, these licenses will still be required but the number of banks would change and instead of one bank, six or seven banks would be involved in working with Iran.

He expressed hope that by the departure of Trump, countries like South Korea, Iraq, China, and Japan which had blocked Iran’s funds in their banks because of the Trump Administration would release them.

The post Europeans Killed the Time With INSTEX appeared first on Iran News Daily.

IRAN NEWS ECONOMIC DESK

TEHRAN – Ambassador of Germany to Tehran Hans-Udo Mutzel in meeting with Head of Tehran Chamber of Commerce Masoud Khansari called for revival of bilateral trade relation and talked about revival of trade relations between Iran and Europe.

Speaking in the meeting, German Ambassador Mutzel emphasized the recent stance of German government for resumption of a new chapter in cooperation between Iran and Germany in all levels and said creating new economic opportunities are the start of new round of bilateral relations after determination of the result of the U.S. presidential election. He then announced readiness of the economic sector of German Embassy in Tehran for cooperation with Tehran Chamber of Commerce and identifying common trade and industrial grounds between economic enterprises of both states.

Mutzel also called for launching the second project for exchange of humanitarian goods between both states through the trading mechanism of INSTEX and reiterated despite problems and hurdles in way of revival of political relations between Iran and Europe which is still under heavy shadow of Trump Administration sanctions, operationalization of this project can signal a clear message from the economic sector to the statesmen that damaged relations between governments can be fixed very fast.

He also said that the INSTEX should not be tied to the bigger problems that there are still very complications in resolving them, reiterating that economic relations between Iran and Germany and then between Tehran and Europe can be developed step by step.

Meanwhile Khansari, for his part, called INSTEX a big failure which was not employed properly by the European governments.

He reiterated that INSTEX belongs to the U.S. maximum pressure era against Iran and with recent development in the White House, the hope for removal of sanctions has become colorful. He noted that so in the current condition, they should think of creating the grounds for financial and banking exchanges beyond the INSTEX between Iran and its trade partners, and with Trump’s exit from the White House, a good opportunity has been set in front of Germany as one of the major trade partner of Iran in order that Germans step in to restore banking interactions with Iran.

He then pointed to considerable amount of trade exchanges between Iran and Germany after the nuclear deal, the JCPOA, adding but after the U.S. pullout of the JCPOA, European governments had to follow the U.S. and stopped cooperating with Iran.

He added that since currently the hope for revival of the JCPOA has increased, Iran and Germany can start a new round of economic cooperation and announced readiness of Tehran Chamber for any cooperation with private sector as well as German Embassy in line with bolstering the ties.

The post Tehran, Berlin Seeking Revival of Economic Relation appeared first on Iran News Daily.

Although condition of the presidential election in the U.S. shows everyday a different picture than the other day, President Donald Trump’s recent remarks show that he has been frustrated and the topic of poetomachia is in the hands of his Democrat rival Joe Biden.

IRAN NEWS POLITICAL DESK

Since something impossible is not impossible, let’s suppose that Trump has lost the presidential election race and has stopped stubbornness, and the White House has been handed over to the Democrats since January 1, 2021 and they have announced readiness to return to the Joint Comprehensive Plan of Action (JCPOA) with some conditions. Then what conditions do we face? Should we stay in a JCPOA that the U.S. suddenly turned its back to all of its pillars and even Europeans did not take any step to save those pillars, or should we insist on our stand that the era of the JCPOA has ended and if it is an agreement to be reached it will be back to the square one, and this time should insist on amending the weaknesses of the childish negotiations of President Hassan Rouhani’s team from Foreign Minister Mr. Mohammad Javad Zarif to his deputy Seyed Abbas Araqchi and even infiltrated spies in the negotiations? Who can believe Europeans’ treasons regarding the JCPOA with different games played by them which were aimed at killing the time?

At first, Europeans promised to launch the Special Purpose Vehicle (SPV) mechanism for trading oil for food and medicines. After months of burning opportunity, they claimed that they could not buy Iran oil but they were ready to launch another financial mechanism, called the INSTEX, which could help Iran to sell its oil to other countries in exchange for buying food and medicines.

First of all, the nature of these proposals was to deny Iran’s rights. Secondly, even according to the United Nations Security Council’s laws regarding the sanctioned country, food and medicines are exempt from sanctions. It has not been yet forgotten that Iraq during its sanctions era enjoyed its right of selling oil in exchange of food and medicines.

According to over 10 clauses stipulated in the text of the UN Resolution 2231, Europeans had undertaken to suspend financial, banking and oil sanction, and while the U.S. had violated the law, they should have stood beside Iran rather than ignoring to fulfill the basic principle “oil for food and medicines.” But they neither acted to their JCPOA obligations nor to their void promises like launching the INSTEX. The only thing they did was to entertain the media and kill the time and to pretend having different stands in their statements with repetition of this big lie “We are committed to the JCPOA,” and with such a cat-and-mouse game they closed Iran’s hands in making decisions to pull out of the JCPOA that one can say they coordinated secretly inside Iran with President Rouhani’s government.

But we should note that Trump’s game drives forth which part of this issue with pretension and which part of it secretly with Europeans. The White House, based on the pressures, whose bases had been laid by Barack Obama’s government through sanctions and the JCPOA, was tempted to finish the job. So in 2018, it brought forth the so-called maximum pressures (Countering America’s Adversaries Through Sanctions Act (CAATSA) and Iran Sanction Act (ISA) which were the alternative of crippling sanctions) and reloaded magazine of the JCPOA with sanction bullets and fired it.

The most important issue in the past two years has been Europe’s trick and malignancy. Foreign Minister Mr. Zarif with all of his wishful thinking in the past has admitted that Europeans have violated 11 anti-sanctions of its obligations regarding the JCPOA. They unilaterally annulled the contracts and zeroed buying Iran oil in a way that their billion-dollars-trade with Iran has declined to only a few dozen million dollars. Even the Germans stonewalled providing Zarif’s plane with fuel. His story of complaining about impossibility to open a banking account in London is famous.

Now the condition is different. The U.S. has resorted to assassination and martyring Lieutenant General Qasem Soleimani and his comrades to confront Iran. Despite this fact that the UNSC has announced him the loser of the snapback case, it has announced it has triggered the snapback mechanism. Two import points are significant in the U.S. and Europe’s behavior. The U.S. says it has triggered the snapback mechanism but no sanction bullet has been left in its sanction gun any more to be implemented. In other words, the financial, banking and oil sanctions whose rails had been laid in the Obama Administration era in the form of CAATSA and ISA and been implemented in Trump Administration are beyond all the sanctions in the UNSC resolutions against Iran, and in fact Europe has already accompanied the U.S. practically.

In the past decade, there have always been disputes among U.S. politicians over how sanctions on Iran to be implemented. That sanctions,to have deeper effect for surrender of Iran, should be gradually increased to become more nettlesome or it is better to be implemented as a shock and immediately, we consider it a media game and in this puppet show, Europe has played the role of good man and protagonist.

Iranian nation is fully aware of full details of the big treason which was committed in the heat of the Green Sedition (2009 presidential election unrests) that even American newspaper Los Angeles Times unmasked this treason and wrote, “Representatives of some leaders of the Green Movement told The Obama Administration to intensify the crippling sanctions, and the sanctions should be repeatedly and shockingly in order to cripple Iran.”

So we can obviously see that the crippling sanctions which were proposed by the inside coup-organizers have been imposed since 2011 and they have not have any effect on the strong determination of the nation and their resistance.

Today the country should definitely make a decision that it will not continue any longer based on the text of the current JCPOA and if it is Joe Biden or presumably Trump to return to the JCPOA, this time its text should be drawn up and negotiated in a way to avoid any practical weaknesses like the one signed during Obama era against Iran, and the negotiating team will be formed by three branches of power.

 By: Hamid Reza Naghashian

The post Suppose Trump Has Lost , Yet JCPOA? appeared first on Iran News Daily.

IRAN NEWS POLITICAL DESK

TEHRAN – The remaining signatories to a 2015 Iran nuclear deal say they will do everything possible to preserve the landmark accord following their first meeting since the United States launched an unlawful push to restore United Nations sanctions against the Islamic Republic.

The meeting of the Joint Commission to the nuclear deal, officially known as the Joint Comprehensive Plan of Action (JCPOA), was co-chaired by Iran’s Deputy Foreign Minister Abbas Araqchi, European External Action Service Secretary General Helga Maria Schmid.

In a post on her Twitter account at the end of the talks, Schmid wrote that it was “important” that the participants — Iran, France, Britain, Germany, Russia and China — were “united in resolve to preserve” the nuclear deal.

She added that the parties were also determined to “find a way to ensure full implementation of the agreement despite current challenges.”

All parties to the JCPOA –Iran, Russia, China, the UK, France and Germany- reiterated that the U.S. is not a participant in the nuclear deal and has no right to use the mechanisms embedded in the JCPOA or in the UNSC Resolution 2231, he underlined.

The JCPOA Joint Commission deems that the U.S. government’s anti-Iranian attempts at the UN are illegal, considers as null and void the U.S.’ bid to trigger the snapback mechanism, and believes that Washington’s measures will get nowhere, he added.

“All JCPOA members and the majority of the international community members are opposed to the U.S.’ unilateral policies and its policy of weakening multilateralism, international organizations and multilateral approaches in the international relations. Everybody complains about the measures the U.S. is taking to ruin the international institutions,” Araqchi stated.

He further criticized the inefficiency of the Instrument in Support of Trade Exchanges (INSTEX), a financial mechanism developed by the three European members of the JCPOA- saying while the channel was supposed to organize trade interaction between Iran and Europe in defiance of the US sanctions, it has fallen far below Iran’s expectations.

The European parties have come up with some ideas to improve the efficiency of the payment channel, Araqchi added, saying one initiative is to allow Russia and China to join the INSTEX and carry financial transactions.

The EU3 has also proposed the idea of increasing the number of INSTEX shareholders and finding new financial resources to fund the channel, the Iranian deputy foreign minister noted.

Speaking after the meeting, Araqchi also said Iran’s JCPOA partners do not recognize the U.S. as a participating side and “do not regard this country as entitled to use the mechanisms of the JCPOA or Resolution 2231.”

“The convergence among the participants sent an important message to the world about the position of the JCPOA’s members,” he said. “This is, of course, the stance of the majority of the international community. The mood at the UN Security Council is also similar.”

“All JCPOA members and the majority of the world community are against America’s unilateral policies and undermining multilateralism and global institutions in international relations. Everyone is complaining about the measures that the US takes to destroy international bodies,” he said.

The Iranian diplomat added that a number of initiatives have been put forward on ways to safeguard the JCPOA against Washington’s unilateralism, adding, “All signatories are determined not to allow the U.S. to impose its own will [on others] and unilaterally kill a deal that has the support of the international community and the Security Council.”

In turn, Russia’s Permanent Representative to International Organizations in Vienna Mikhail Ulyanov wrote on Twitter that the Vienna meeting “demonstrated that its participants are fully committed to the nuclear deal and are determined to do their best to preserve it.”

The post JCPOA Parties Determined to Preserve Iran Deal appeared first on Iran News Daily.

The Western media’s lobbying in Iranian media has not ever shown itself in the past five decades as of today.

The release of news on Iran and China’s 25-year strategic accord and different opinions on this issue showed us that the accord can dry up all the al-most-one-century-long political, economic, cultural and social roots which have been planted and cherished by the Westerners in Iran as they had once pinned hope that they bear fruits. Amid this huge media hype, some used to compare the accord with Treaty of Turkmenchay (a treaty signed between Iran and Russia in 1828) and ultimately these piercing outcries are for the sake of drying up of those roots.

IRAN NEWS POLITICAL DESK

When we look at the text of the Iran-China accord deeply, we realize that there is nothing in it to threaten Iran’s national interests and all hypes and media propagandas which had been started by the West-oriented people, especially the U.S. and its allies, against this accord are like fuss for “much ado about nothing”.

In a simple analysis, one can find out that the significance and importance of this accord and to what extent it is reliable and what a blow it is practically on the Western governments’ policies and especially the U.S.’s against Iran. In case the result of this accord means the collapse of the U.S. sanctions against Iran, so the U.S. and its allies are right to organize such media hype against Iran. Is not failure of the seeds planted by the West and managed by the British in Iran for encouraging Iranian nation to revolt against the Islamic Revolution anything but to destroy a very-long term achievement?

The approach of the West and its allies in the region and their opposition against Iran and China’s 25-year accord proves that the route which has been chosen by Iranians  for cooperation with the East is deep and it has received well response and they should continue the very route, and even in case the door for cooperation with other countries is to open, they should still keep this relation and not to leave bargain mode for choosing the best in order that this time a stronger condition is created for economic foundation of the country.

Reports released on the reactions from European countries, India, South Korea and Turkey all indicate this point that they were waiting for a certain definition for political change that the West had determined it but how much has this accord been effective in overturning their fictitious tower?

India which had signed the deal with Iran years ago for developing Chabahar Port has failed in observing its obligation and claims it cannot transfer money into Iran and it actually did begin the project. Is not it that imaginary anticipation that the Westerners had made for the Indians? As soon as Indians found out that Iranians might hand over the project to the Chinese, they took action and sent messages to Iranians that they were ready to dispatch a delegation for the project and even they said they were ready to transfer the budget of the project in cash. If we do not say it was the result of Iran and China’s accord, so what we can call it?

Even following the release of report on Iran-China accord, South Korea has sent a message to Iran via a third party that $7b of Iran’s frozen money is in South Korean banks and they are ready to start negotiations with Iran over the transfer of the money to Iran.

Is there anyone who has been unaware of this point that before the release of report on Iran-China accord, South Koreans had frozen Iran’s money and they refrained from talking about it with Iranians? Even Europeans have decided to resume the projects which had been left incomplete for years and they claim that they have found a way for transfer of money to Iran through the financial mechanism INSTEX.

Some other countries have contacted with Iran’s embassies and restored friendly relations and have claimed that Americans have let them release some part of Iran’s money on some conditions. In fact, all these actions have not been take without the U.S. consent and will not also be, because politicians in those countries are not ready at any condition to take action without the U.S. approval and to pursue the route for dry the Western culture.

With seeing huge reactions to Iran-China deal, one can weigh how the amount of cultural, political and intelligence investment of the West in Iran is deep and what antidote can dry this Western investment.

The ideological principles of the Islamic Republic have been taken shape based on the slogan of “Neither East, Nor West” but due to the subcutaneous propagations of the West in Iran during the past four decades, some governments, influenced by the Western culture, have taken office and they have not let the country wipe out this octopus-like epidemic in the culture and mind.

Initiative for creating balance in eastern and western criteria will undoubtedly reduce the sediment of West-orientation sickness, and a balanced wisdom, it will save the people from West-orientation drowsiness and will push them to think of independence in their souls and deeds.

Regardless of this point that China’s interests lie on using its forex reserves, which is confined in the U.S., in favor of the West Asia which is the energy production hub of the world, China’s strategy in transfer of global economy leadership from the West to Asia needs some beds which are actually seen in abundance in the region; and undoubtedly, China’s sagacity  has acquired it, and activating the agreement with Iran is definitely the beginning for this thought and performance.

 By: Hamid Reza Naghashian

The post West’s Fear of Iran-China Agreement appeared first on Iran News Daily.

IRAN NEWS ECONOMIC DESK

TEHRAN – Director General for Europe-U.S. Office of Iran’s Trade Promotion Organization of Iran Behrouz Olfat says Iran can provide Venezuela with its needed goods and it depends on settling the payment which has been rather resolved.

Speaking to ILNA, Olfat said that Iran in exports of food stuff, consumer and hygienic goods, and medicines has enough capacity to provide Venezuela with goods which are needed by the country but it depends on the settlement of payments and it seems the problem is getting resolved.

He said Iran’s trade with Europe has declined since the U.S. unilateral pullout of the JCPOA, and it is because of the economic structures and activities of European enterprises which were strongly affected. He further said that during the JCPOA, European officials signed the deal and accepted some obligations but in the modern day in the West, governments have no major roles in the economy as almost 98 percent of their economies are run by the private sectors and in fact the process of production and trade is under the control of the private sector and the government has insignificant role in it.

Olfat added that in the past two years, European officials at least in the public used to say that they were doing their best to encourage European enterprises to retain their trade exchanges with Iran but they have not even  given any guarantee for its implementation. So in practice, European companies have lowered their trade with Iran significantly and some of agreements and contracts were halted or suspended, he noted.

He said as the result, Iran’s trade with Europe is facing downtrend as the trade volume with those states in the first quarter of 2020 comparing to the previous year has improved slightly but it is still negative.

On the function of Europe’s financial mechanism, INSTEX, Mr. Olfat said that this mechanism was unable to save Iran’s trade with Europe and it actually did not meet expectations.

He said issues like insurance, transportation and shipping are still under sanctions and they have made the INSTEX an ineffective mechanism.

Olfat further said that the Coronavirus pandemic has affected the world trade but despite the pandemic, Iran’s trade with Europe has improved slightly in the first quarter of 2020 but the virus’s negative impact on Iran’s trade has been between 40 to 50 percent.

He said Iran’s trade with the U.S. has been totally affected by the sanctions but Iran’s trade with other countries in the American continent like Brazil and Venezuela has grown positively especially with Venezuela which is rising significantly.

The post Iran Able to Supply Venezuela With Needed Goods appeared first on Iran News Daily.

The day when I was writing one of my articles “The Kids We Sent to the Warfront,” I was foreseeing today, yesterday and tomorrow that three European countries would scratch President Hassan Rouhani and his negotiating team from Muhammad Javad Zarif to Seyed Abbas Araqchi and the likes in their faces to please the U.S. and to laugh boisterously at all Iranian nation who sent beguiled children to the war with experienced Satans.

IRAN NEWS POLITICAL DESK

The resolution which was approved against Iran by the Board of Governors of IAEA on Thursday is a resolution which was drafted by three European countries and it was undoubtedly for pleasing the U.S. and especially the White House. President Rouhani and his negotiating team have been waiting hopefully that perhaps Europeans would stop alignment with the U.S. and in fact to get along with the Joint Comprehensive Plan of Action (JCPOA) which not only had any profit for Iran but also had losses and ultimately it did not happen.

Toleration of childish game of INSTEX was so humiliating but Iranian nation showed lenience to it. Now it is sound and clear for all that Europeans with this decision put the final nail in the coffin of the JCPOA.

Iranian nation for almost eight years has been tolerating a liberal government which thought Europeans have not left it alone and today it became much clear that Europe and the U.S. are both two sides of a coin, and relying hope on any side of it is a strategic mistake.

All have realized what has been stipulated in the content of the IAEA’s resolution. It has once and again   called on the Islamic Republic of Iran to fully cooperate with the IAEA in implementing its NPT Safeguards Agreement and Additional Protocol and satisfy the IAEA’s requests without further delay. It happens while the agency itself has not observed any of its obligations regarding it and ignore them with full rudeness.

That what will be President Rouhani’s reaction against European troika’s hypocrisy is something that we should wait and see but any wise man in any government who sees this humiliating and rude behavior, which is something beyond breaching the promise and discrediting the JCPOA, should reduce the ties with these three countries to the lowest level and take legal action against them. Call for emergency meeting of Non-Alignment Movement members for revealing the role of European troika’s hypocrisy can be the next action.

With this move, it became clear that Europeans have advanced in their subservience and dependence to the U.S. (of course one should not forget their dirty natures especially the British) and they have stuck in the quagmire of their behavior.

They want Iran to be committed to its obligations while they do not observe any of theirs. These countries are in talks with Iran to remain committed to the JCPOA and not to leave while at the same time they want to extend Iran’s arms embargo for six months more.

What problems can Europeans create for Iran but being a tool for exerting more pressure on the country and its nation while they have almost made the trade with Iran one-sided and almost zeroed? The government’s hesitation in reducing the level of ties with these countries is like the same mistake of not pulling out of the JCPOA and I wish we could implement the nation’s will which is to take a revolutionary stand against them.

 By: Hamid Reza Naghashian

The post Not Pulling out of JCPOA Was a Mistake appeared first on Iran News Daily.

According To Iran News, Iran’s deputy foreign minister for economic diplomacy expressed dissatisfaction with the volume of transactions that Tehran has been able to carry via a financial mechanism the EU has devised for trade with the Islamic Republic, known as INSTEX.

In an interview with IRIB, Gholam Reza Ansari said although the Instrument in Support of Trade Exchanges (INSTEX) has been used for limited trade with Iran since March, Tehran is not satisfied with the payment channel.

The Central Bank of Iran is willing to see the INSTEX activated, he added, expressing hope that the channel would be employed for direct purchases from Europe.

Asked whether Europe is cooperating with Iran in this regard, Ansari said, “Although the European parties are cooperating, the type and amount of the commodities (being traded with Iran) are limited.”

“We hope that this mechanism could make the bilateral trade of all items possible in future,” the Iranian deputy foreign minister noted.

INSTEX is a payment channel that France, Germany and Britain – the three European signatories to the JCPOA – have devised to continue trade with Tehran and bypass the US embargoes.

In November 2019, the Finnish foreign ministry said Finland, Belgium, Denmark, the Netherlands, Norway, and Sweden will join INSTEX.

The post INSTEX Transactions Unsatisfactory appeared first on Iran News Daily.

In a telephone conversation on Wednesday, Rouhani and Alexander Van der Bellen also described US sanctions against Iran as an obstacle to meeting medical and pharmaceutical needs, and expressed opposition to the continuation of the sanctions.

Despite the current difficult conditions in the fight against the coronavirus, the United States continues its sanctions on Iran’s pharmaceutical and medical needs, Rouhani said, adding, “The American government is also strongly obstructing Iran’s request to receive a loan from the IMF for fighting the virus.

“We believe that the European Union should take more serious actions in the current situation towards its commitments to international affairs and the JCPOA.

“Europe’s commitment to fighting this pandemic and helping countries and putting an end to illegal sanctions is important, and I hope we can see a new action and initiative on the part of Europe.”

Rouhani further stressed that in the current situation of the outbreak of the coronavirus in the world, all efforts should be focused on lifting sanctions and eliminating differences and extinguishing wars and conflicts, and said that Iran seeks peace and stability in the region.

He said Iran expects Europe to put pressure on the Zionist Regime of Israel and not to allow the regime to move the conditions towards a crisis by attacking Syria and Lebanon and the continued siege of Gaza, ignoring the global coronavirus pandemic.

The Austrian president, for his part, said Austria and the European Union “oppose the US sanctions against Iran and will continue their cooperation with Tehran.

He added that his country is keen on deepening ties and cooperation with Iran and sharing experiences in fighting COVID-19.

“We are trying to improve relations between Iran and Europe without being influenced by the United States,” he said, adding that the US move contradicts international treaties and is against international laws.

The two presidents also stressed the need to strengthen the Instrument in Support of Trade Exchanges (INSTEX).

INSTEX is a payment channel that France, Germany, and Britain – the three European signatories to the Iran nuclear deal, known the Joint Comprehensive Plan of Action (JCPOA) – have devised to continue trade with Tehran and bypass the US embargoes.

The post Iran, Austria Talk on Global Cooperation to Fight COVID-19 appeared first on Iran News Daily.