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Meeting on the European Financial Approaches on the Sanctions and the Evaluation of the INSTEX

In this session Strategies to facilitate trade with Europeans in the INSTEX and the possibility of having trade with non-European countries in future were discussed.

 

 

Dr. Hadi Ajili, Professor of Political Science and International Relations at Allameh Tabataba'i University, at the meeting of the European Financial approaches on Sanctions and the INSTEX Evaluation which was held by the Iranian International Studies Association (IISA) at the IRNA news agency on Tuesday, July 25, 2019, stated that the European mechanism (INSTEX) is not a new mechanism, despite of the European’s claim. He asserted that the way to facilitate exchanges in this mechanism is that companies and governmental parts in European countries just through this mechanism can trade with Iran without fearing of the US sanctions and boycotts.

 

 

 

This expert analyst added that Europe's mechanism (INSTEX) is not a new one in spite of the European’s claim, as Iran's economic relations with China, India and Turkey were in the same format before. We would sell them oil and gave our merchants just as much drafts and checks. Even what was done in China was much more advanced than INSTEX, because the Chinese set up a bank to work with Iran. He also noted that Europe could allocate some credits to Iran, and Iran would liquidate that credit by selling its oil. It is not clear when this account will be cleared and liquidate. According to this formula, Europe does not guarantee the exchange of goods with Iran, but if they give us some credits - not loan - then the purchase of Iranian oil would be guaranteed.

 

 

Dr. Farzaneh Naqdi, the other expert of this session, quoted: “Iranian and European small and medium-sized enterprises should raise their trades through INSTEX and then this expanded to other sectors so that other countries, such as India, could enter trade with Iran. She added: "About two-thirds of global sanctions have been imposed unilaterally by the United States.  In fact, the US sanctions have a lot of complexities and include different layers”.

She, also, pointed to the INSTEX mechanism by the Europeans, saying that three European members designed the INSTEX after the US left the JCPOA so, they could keep Iran in the JCPOA. If Iran could have a successful economic and technological interaction with other countries it wouldn’t fail to take advantage of the JCPOA opportunities. So, at least 2 years were necessary to learn new international standards to be able to communicate with the world and enjoy the JCPOA opportunities.”

According to Dr. Naqdi, it is necessary to increase the interaction of Iranian and European SMEs through INSTEX and then expand them to other sectors so that other countries such as India can also enter the INSTEX mechanism.

 

 

Source: Public Relation of IISA
Published Date: 1398/05/12 - 20:3
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