The German Ministry of Foreign Affairs announced that the countries participating in the reconciliation mechanism with Iran will cease their INSTEX (Commercial Exchange Support Tool) activities. DEA NewsBased on the statement made by the Directorate;
“Ten members of INSTEX – Belgium, Germany, Finland, France, Netherlands, Norway, Spain, Sweden, Denmark and the United Kingdom – have agreed to disband INSTEX,” the document states.
It was clarified that the measure was taken after Iran “systematically interfered” with the achievement of INSTEX’s humanitarian goals and only once accepted an export of medical supplies from the EU.
The termination decision was taken at the extraordinary general assembly held on 9 March.
1 April 2020 EU and Iran for the first time closed the deal Through the INSTEX mechanism created specifically to circumvent US sanctions.