Read more on this subject: Iran
Feature Article by Stephen Lendman
Six European Nations Join INSTEX's Illusory Trade Mechanism with Iran
by Stephen Lendman (stephenlendman.org – Home – Stephen Lendman)
The EU Instrument for Supporting Trade Exchanges (INSTEX) with Iran became operational in June — a smoke and mirrors scheme to bypass dollar transactions, unrelated to restoring normal European trade with Iran.
It's an illusory financial transactions mechanism, pretending to reinstate normal trade with Iran — not fulfilled since announced in January.
What's supposed to be an oil for goods mechanism is only for what the Trump regime hasn't sanctioned, failing to cover exports of Iranian oil, gas, petrochemicals, and other products.
It also falls woefully short of facilitating Iranian imports of food, medicines, and medical equipment.
Establishing it created the phony appearance of Brussels wanting normal trade relations with Iran. Reality is polar opposite.
European countries op
Read More or Make a Comment