We Hope INSTEX to Become Operational After Joining of 6 European States

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A senior Iranian diplomat Abbas Araghchi has expressed hope that the EU financial mechanism will come into force after joining of Norway. Sweden. Denmark. Finland. Belgium and the Netherlands.

Iranian Deputy Foreign Minister Seyyed Abbas Araghchi made the comments on a visit to China to discuss the Iran nuclear deal or the so-called JCPOA at the invitation of his Chinese counterpart.

The more European countries join the INSTEX mechanism as the shareholders. the better. but the effectiveness of the mechanism is another matter. Araghchi told IRNA.

He further expressed doubt that the European countries would take practical steps to operationalize the INSTEX. while hoping that the mechanism will become operational after joining of Norway. Sweden. Denmark. Finland. Belgium and the Netherlands.

Norwegian Ambassador to Tehran Lars Nordrum in a tweet announced yesterday that Norway along with Sweden. Denmark. Finland. Belgium and the Netherlands will join EU’s trade mechanism.