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Finland joins EU-Iran INSTEX mechanism

Published : 29 Nov 2019, 20:00

Updated : 30 Nov 2019, 08:42

  DF Report

Iran's Foreign Minister Mohammad Javad Zarif (3rd L) meets with visiting EU foreign policy chief Federica Mogherini in Tehran, Iran, on April 16, 2016. (Xinhua/Ahmad Halabisaz).

Finland including other five countries will join INSTEX mechanism for trading with Iran.

Belgium, Denmark, Finland, the Netherlands, Norway and Sweden attach the utmost importance to the preservation and full implementation of the Joint Comprehensive Plan of Action (JCPoA) on Iran’s nuclear programme by all parties involved, said an official statement from the Finnish government.

The nuclear agreement was unanimously endorsed by the UN Security Council and is as a key instrument for the global non-proliferation regime and a major contribution to stability in the region.

In light of the continuous European support for the agreement and the ongoing efforts to implement the economic part of it and to facilitate legitimate trade between Europe and Iran, we are now in the process of becoming shareholders of the Instrument in Support of Trade Exchanges (INSTEX) subject to completion of national procedures. INSTEX was established by France, Germany and the United Kingdom in January 2019.

In this context, it is crucial for the Islamic Republic of Iran to return without delay to full compliance with the terms and provisions of the nuclear agreement.