TEHRAN, Feb 1 (NNN-IRNA) – German, British and French foreign ministers late Thursday in Bucharest officially announced the commissioning of the European special financial mechanism known as the Instrument in Support of Trade Exchanges (INSTEX) to ease trade exchanges with Iran.
Heiko Maas, Jean-Yves Le Drian, Jeremy Hunt, foreign ministers of Germany, France and Britain made the announcement during a joint news conference in Bucharest after a meeting of European Union foreign ministers.
Jeremy Hunt described commissioning of the Instrument in Support of Trade Exchanges (INSTEX) as a practical symbol of EU commitment to Iran nuclear deal.
He said the INSTEX was taken in line with fulfilling commitments under the JCPOA to maintain removal of sanctions.
The mechanism will mainly focus on the goods that the Iranian nation may need such as foodstuff and medicine.
Describing commissioning of the mechanism as a big step, he said that there are still more to do.
Three European states are trying to focus on all the necessary technical and legal aspects for activating the mechanism, Hunt said.
He further noted that Iran nuclear deal was a main element in the international efforts and significant for the region.