German Foreign Minister Hints at Installation of Instex Despite US warning
Instex, the European payment system designed to allow countries to trade with Iran despite U.S. sanctions, will be ready soon, German Foreign Minister Heiko Maas said in Iran, according to multiple reports and a June 10 German Foreign Office press…
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release. Maas recently met with Iran officials, the foreign office said, and underscored Europe’s support for the Joint Comprehensive Plan of Action. Meeting with reporters in Tehran, Maas said that “all the formal requirements are in place now,” to use Instex, according to reports, “and so I’m assuming we’ll be ready to use it in the foreseeable future.” The announcement comes about a week after the Trump administration sent a warning to Europe that sanctions will be imposed on anyone associated with Instex (see 1905300035). The German Foreign Office was critical of the U.S. decision to withdraw from the Iran deal and its decision “not to extend exemptions for oil exports and non proliferation projects,” the press release said. “Germany and the other parties support the preservation of the JCPoA as a safeguard for greater stability and security in the region,” it said.