DW: INSTEX: Europe sets up transactions channel with Iran
Germany, France and the UK have set up a payment channel with Iran called INSTEX, to help continue trade and circumvent US sanctions. The question is, how will Washington react?
Several European countries have registered a transaction channel with Iran in order to facilitate trade despite US sanctions, German diplomats confirmed to DW on Thursday.
The channel, set up by Germany, France and the UK (E3), is called INSTEX — short for "Instrument in Support of Trade Exchanges."
The payment channel allows for European countries to continue trade with Iran but could put them on a collision course with Washington.
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Update #1: EU launches mechanism to bypass US sanctions on Iran (Al Jazeera)
Update #2: Europe Is About to Infuriate Trump with a New Trading Channel to Bypass Iran Sanctions (Fortune)
Update #3: What is the EU-Iran payment vehicle INSTEX? (DW)
WNU Editor: Iran is expecting more .... SPV launch first step for EU to fulfill its commitments under nuclear deal (MEHR News Agency). The big question is .... what will the U.S. do? As to what is my take. A month after imposing sanctions on Iran for plotting and conducting terrorist attacks on European soil .... In shift, EU sanctions Iran over planned Europe attacks (Reuters), the Europeans are now doing this. This is why it has always been hard to take the EU as a serious partner. They say and do one thing .... and then a month later do something else.