He attended the Iran-Germany Joint Chamber of Commerce and Industry and met and discussed with representatives of Iranian and German companies on problems and barriers to financial transactions.

STFI, called SATMA in Persian, was established to ease INSTEX implementation. If the financial instrument is decided to become operational, Iran says there will be no problem having it run in the country.

Former German diplomat Michael Bock was appointed as the new chairman of EU trade mechanism with Iran dubbed “INSTEX” on 6 June 2019.

INSTEX is a special-purpose vehicle established in January 2019 by France, Germany and the United Kingdom to facilitate non-dollar trade with Iran in a bid to bypass US sanctions.

So far, INSTEX has not become operational despite intense efforts on all sides.

The post INSTEX chairman in Iran to meet with senior officals appeared first on Iran News Daily.