Europe sets up payment vehicle to facilitate trade with Iran

By Sascha Matuszak

Germany, France, and Britain created an EU-backed trading mechanism, INSTEX, to facilitate trade with Iran in non-sanctioned items such as food and medicine. Although the trading platform does not trade in goods subject to the United States sanctions regime against Iran, there are still concerns that the US will try and scuttle the mechanism before it is able to establish trade links with Iran.

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