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Six European countries join INSTEX

30 November 2019 14:28

BRUSSELS. KAZINFORM Belgium, Denmark, the Netherlands, Norway, Finland and Sweden announced their accession to the INSTEX mechanism created to dodge the U.S. sanctions against Iran, Kazinform reports referring to the joint statement of these countries.

In July 2015, the UN Security Council unanimously approved the Joint Comprehensive Plan of Action (JCPOA) known commonly as the Iran nuclear deal, a key instrument of the global nuclear non-proliferation regime.

The JCPOA was signed between Iran and six international mediators (the U.S., France, Great Britain, Germany, China and Russia). Tehran agreed to limit its developments in nuclear sphere in exchange for lifting the sanctions.

The U.S. withdrew from the JCPOA. In turn, Tehran set to gradual reduction of its JCPOA commitments.

«In light of the continuous European support for the agreement and the ongoing efforts to implement the economic part of it and to facilitate legitimate trade between Europe and Iran, we are now in the process of becoming shareholders of the Instrument in Support of Trade Exchanges (INSTEX) subject to completion of national procedures,» the joint statement reads.

INSTEX was established by France, Germany and the United Kingdom in January 2019.

Six countries which joined this mechanism noted that they «attach the utmost importance to the preservation and full implementation of the Joint Comprehensive Plan of Action (JCPoA) on Iran’s nuclear programme by all parties involved.»

These countries called Tehran to immediately return to full compliance with the conditions and provisions of the nuclear deal.

Keywords: Politics, World News,