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Iran to form financial transaction mechanism
(MENAFN) Iranian vice president for economic affairs Mohammad Nahavandian announced the country to be targeting the formation of an instrument for financial dealings with partners, including Iraq and Syria.
A payment chancel for trade with Iranian partners is sought to be created, the vice president revealed, noting that Iran already imposed measures for the execution of the EU's Instrument in Support of Trade Exchanges (INSTEX).
This comes while Iran is aiming to preserve its bilateral relations and trade cooperation with partners despite the U.S. sanctions.
INSTEX was developed by the EU in January in order to maintain trade with Iran, recently, Iran's Foreign Minister Mohammad Javad Zarif addressed the introduction of a new mechanism similar to the EU one.
A payment chancel for trade with Iranian partners is sought to be created, the vice president revealed, noting that Iran already imposed measures for the execution of the EU's Instrument in Support of Trade Exchanges (INSTEX).
This comes while Iran is aiming to preserve its bilateral relations and trade cooperation with partners despite the U.S. sanctions.
INSTEX was developed by the EU in January in order to maintain trade with Iran, recently, Iran's Foreign Minister Mohammad Javad Zarif addressed the introduction of a new mechanism similar to the EU one.
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