INSTEX. What is it and how can it be used ?

[Abu Hadi]

https://abcnews.go.com/Politics/Iran-stand-nuclear-threat-Europe-china-work-bypass/story?id=64021813

 

...The European Union announced Friday that INSTEX, its mechanism for financial transactions that will bypass U.S. sanctions, is finally operational, and two or three transactions are already being executed, according to Araghchi. Several European countries have already announced that they will join, and perhaps even more important to its success, China also expressed interest Friday...

 

What is it and how can it be utilized. This seems to be a positive development for our brothers and sisters in Iran. Can normal companies in Iran who want to do business with European companies use it, or just the government. Is it just for trading in Petro Chemical products or can it be used for other purposes ? 

Here is the Wiki Page

https://en.wikipedia.org/wiki/Instrument_in_Support_of_Trade_Exchanges

[Haji 2003]

Quote

European diplomats admit that Instex is largely a political symbol and will initially only be used for a narrow range of transactions for items such as food and medicine that the US already exempts from sanctions on humanitarian grounds. 

https://www.ft.com/content/8f6c6476-99c2-11e9-8cfb-30c211dcd229

[Propaganda_of_the_Deed]

I misread the title.

[Abu Hadi]

9 hours ago, Haji 2003 said:

https://www.ft.com/content/8f6c6476-99c2-11e9-8cfb-30c211dcd229

They put up a paywall now and I don't have a subscription to FT ( I might renew mine, not sure yet)

Is there a link to a summary of this article somewhere. 

[Abu Hadi]

9 hours ago, Propaganda_of_the_Deed said:

I misread the title.

Made you look. Loool. I know what you were thinking. 

Anyway, this is serious (kind of). I was looking for info on this new trading system. 

[hasanhh]

It was a flop do to a lack of business. lts purpose was to facilitate trade with lran.

Apparently, it was re-started this week.

Edited June 30, 2019 by hasanhh

[Ashvazdanghe]

Salam majority of people see it like as failed JCPOA  that is equal to oil selling in return of food & Medicine that is in new form & name but authorities are trying to convince people that is not true .

[haidermpr]

Europe is not sincere in its approach.. This is  nothing more than buying time for Europe..Ultimately they will side with AmeriKKKan monsters.. 

Iran should not believe these European white Supremacists who are working day and night for Zionist Oligarchs..

China already doing business with Iran and it doesn't need INSTEX to felicitate its transactions..

[Abu Hadi]

I think this is a wrong attitude. 

Here are a few big advantages that Iran has vis a via the European Governments.

1. The people of Europe are different than the people of the US. The people of the US feel that they have more of a 'buffer zone' between them and the rest of the world due to the military strength and due to the fact that there are large oceans between them and most of the world. So many of them (but not all) are willing to 'push the envelope' as far as accepting bullying policies from their government in exchange for something they think they may get, I.e. economic benefits. 

The people of Europe are not the same way. First, there is not much of a buffer, in terms of distance between them and the rest of the world. Second, most (maybe with the exception of the United Kingdom) do not have strong military that they believe can protect them 'no matter what happens'. Third, they have been dependent (since WWII) on the US to protect them in case of a large conflict. That confidence in this protection, especially under Trump, is diminishing. So most of them realize that if there is some sort of conflict between the US and Iran, they will suffer more than others in terms of economy and loss of life. So they are much more inclined to 'push the envelope' in the other direction, the direction of making peace with Iran and the rest of the world. While I think the European governments are in the pocket of the Zionists, the people are much less so. They see no tangible benefits to them to supporting the Zionist actions. So this is what the European governments are reacting to. 

The main concern of the European governments vis a via the Iran Nuclear Deal and the recent behavior to Trump and his cronies, is that they will carry forward with their threat to cut off trade between the US and whatever European country does business with Iran. There is no second concern, I think this is the main and only one. Although there was pressure, even under Obama, for the European Governments not to do any real and significant business with Iran, Trump took it to a whole other level. If he carries through on his threat, this will be a huge blow, economically. 

The solution for this, which I think everyone in the world should support, including us here, is to encourage as many countries as possible to move, all together and quickly, to start using this new system to trade with Iran. If one or two, or even 5 or 6 countries sign on, and the rest of them don't, then it will be very easy for the US to pick them off, one by one, and shut off trade with them. I think this is what Trump is expecting, and there is a good probability of this happening. Then they will be under tremendous pressure to stop using the system and it will collapse. But if they move all together (United Kingdom, France, Germany, Netherlands, China, etc) to use the system, the US has no way to stop trade with 'all' these countries without severely affecting it's own economy. So they won't do it. Then the system will be normalized and the problem will be solved, at least for now. 

So we should support this solution, instead of 'throwing shade' on this new system. In my humble opinion. 

[Ashvazdanghe]

Iran will take 2nd step to reduce JCPOA commitments

http://en.abna24.com/news//Iran-will-take-2nd-step-to-reduce-jcpoa-commitments_956838.html

http://en.abna24.com/news//larijani-Iran’s-period-of-difficult-conditions-is-temporary_956876.html

July 1, 2019 - 4:53 PM News Code : 956838 Source : TasnimLink: 

 

Iran will definitely take the next step to reduce certain commitments under the 2015 nuclear deal given the unsatisfactory results of the latest meeting of the JCPOA joint commission in Vienna. 

However, an informed source has told Tasnim that Iran will definitely carry out the second step to reduce its JCPOA commitments in due time, most likely on July 7, given that its conditions have not been met and the INSTEX has proved totally insufficient for Iran’s needs. 

The reason why Iran has not announced the result of first moves to scale down the JCPOA commitments is that the International Atomic Energy Agency (IAEA) will probably declare the issue in the coming days, the source noted. 

Iran has also set a 60-day deadline for the remaining JCPOA parties to fulfill their undertakings. 

At a cabinet session on May 8, Iranian President Hassan Rouhani said the five remaining parties to the JCPOA -Russia, China, Britain, France and Germany- have been informed of Tehran’s decision to refuse to continue honoring two commitments under the deal. 

He said Iran stops selling any enriched uranium above the 300-kg limit in exchange for yellow cake and also stops selling its heavy water above the limit of 130 tons. 

The president also announced that the JCPOA parties will have 60 days to come to the negotiating table and fulfill Iran’s main interests under the nuclear deal, especially regarding oil sales and banking interaction. 

[Ashvazdanghe]

20 hours ago, Abu Hadi said:

Here are a few big advantages that Iran has vis a via the European Governments.

1. The people of Europe are different than the people of the US.

Salam , it's true but European governments are completely obedient to United States that never can stand against America  that in other hand they don't want lose the oil trade with Iran but they don't want to face any ban from America too , they want only apply INSTEX to close hands of Iran in economic without fulfilling their previous promises in JCPOA so current applying INSTEX is just a one way road for buying oil from Iran based fake & cheap price without helping Iran against America & ruining Iran economic .

Edited July 2, 2019 by Ashvazdanghe

[Haji 2003]

Quote

French Finance Minister Bruno Le Maire said on Thursday he hoped a special trade channel set up with Iran would complete a first, limited transaction in the coming days.

Even then, the system initially will only deal in products such as pharmaceuticals and foods, which are not subject to U.S. sanctions.

Iranian officials have repeatedly said Instex must include oil sales or provide substantial credit facilities for it to be beneficial.

https://www.firstpost.com/business/Europe-trade-channel-with-Iran-close-to-1st-deal-in-days-france-6937431.html

[Quran313]

It is NOTHING and it can NEVER be used.

[Ashvazdanghe]

He described the INSTEX as a theatrical move by the Europeans, and said, "Today, INSTEX is just a mechanism empty of cash and an empty INSTEX is of no use at all, but if the INSTEX becomes operational and Iran's crude revenues can be retrieved through it, we can accept it to some extent irrespective of its shortcomings." 

President Rouhani warned if Europeans choose to avoid practical steps, Iran will further modify its nuclear deal undertakings from July 7. "The level of Iran's enrichment will not be limited to 3.67% anymore from July 7 and this undertaking will be called off and we will enhance the (enrichment) level to the extent we need." 

"If the other sides avoid complying with all their undertakings based on the timeline, from July 7, the Arak (heavy water) reactor will also return to its previous conditions, the conditions that they (the West) claimed was dangerous as it could produce (a larger volume of) plutonium, unless they abide by all their obligations with regard to the Arak reactor," he added. 

"Iran advises Europe and the US to get back to logic, the negotiating table, understanding, respect for law and respect for the UN Security Council resolutions, which means that everyone should act based on the nuclear deal," President Rouhani said. 

http://en.abna24.com/news//Iran-to-continue-enriching-uranium-to-generate-electricity_957896.html

[Haji 2003]

This story illustrates why Europeans are terrified of U.S. sanctions. Even if they want to break sanctions, they know they likely have employees who, for a variety of reasons, may report them to the Americans.

https://www.ft.com/content/16a53f86-aa20-11e9-984c-fac8325aaa04

[Ashvazdanghe]

In phone call with Macron;

Pres. Rouhani: Iran determined to keep all routes open for safeguarding JCPOA

https://en.abna24.com/news//pres-rouhani-Iran-determined-to-keep-all-routes-open-for-safeguarding-jcpoa_962523.html

July 19, 2019 - 5:39 PM News Code : 962523 Source : President.irLink: 

 

Presidents of the Islamic Republic of Iran and France spoke by telephone and discussed the most important bilateral, regional and international issues, stressing that efforts for safeguarding the JCPOA should be continued. 

Tehran's Friday Prayers Leader:

Europeans not fulfilling JCPOA commitments, coordinating with US

https://en.abna24.com/news//europeans-not-fulfilling-jcpoa-commitments-coordinating-with-us_962522.html

July 19, 2019 - 5:35 PM News Code : 962522 Source : FNALink: 

 

Tehran's provisional Friday Prayers Leader Ayatollah Mohammed Emami Kashani slammed the three European countries of Germany, France and the United Kingdom for not taking the needed measures to save the Joint Comprehensive Plan of Action (JCPOA) and also their compliance with the US. 

Edited July 20, 2019 by Ashvazdanghe

[Haji 2003]

Quote

European efforts to launch a payments channel to facilitate trade with Iran suffered a fresh setback on Thursday when the German former diplomat who was set to take over as the new chief of Instex was forced to pull out at the last moment. The move by Bernd Erbel, 72, a former ambassador to Tehran, followed revelations in the German daily Bild of a recent YouTube interview in which the designated Instex chief voiced sympathy for Iran along with pointed criticism of Israel.

The sudden reversal of Mr. Erbel´s appointment will do little to dispel scepticism that Instex is unlikely to have a big economic impact for Iran and is little more than a symbol of European resistance to the US policy of “maximum pressure” on Tehran.

https://www.ft.com/content/2cd0746c-ba13-11e9-8a88-aa6628ac896c