Iran: Creation of Trade Tool with Turkey, Russia to Bypass US Sanctions Possible
EU countries previously introduced the Instrument in Support of Trade Exchanges (INSTEX) in order to bypass US sanctions against Tehran and protect the European companies against the secondary sanctions.
AVA- Iranian Foreign Minister Mohammad Javad Zarif has told Sputnik that a mechanism similar to INSTEX may be implemented in participation with other interested countries, including Russia and Turkey.
“Iran’s version of the European INSTEX is a company known as SATMA. The European Union has been informed of it”, he noted.
The minister also stressed that Iran would be taking steps concerning the nuclear deal if the European Union is unable to help Tehran counter US sanctions.
“As long as Iran’s interests are protected by the JCPOA, and the EU sticks to its commitments, Iran will comply with the agreement. As soon as the European Union is unable to help Iran counter-sanctions, Iran’s unilateral adherence to the JCPOA may lose its meaning. In that case, the restrictions under the JCPOA may be reviewed”, Zarif said.
Zarif stressed also stressed that the US military presence in Syria has been illegitimate, adding that Washington has never fought ISIL terrorist group.