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France invests $ 15 billion in settlement mechanism with Iran

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France invests $ 15 billion in settlement mechanism with Iran
September 25
09:00 2019

France wants to participate in the INSTEX project. The intentions of the European power are so serious that official Paris is ready to invest $ 15 billion in a mechanism that will allow operations with Iran bypassing US restrictions. This information was provided by the head of SATMA, a company that develops methods for trading between Iran and the European Union.

Ali Nouri said that a bank from Europe is already working with INSTEX.

Nouri explains that sanctions have made it impossible to finance INSTEX from the oil sector. Therefore, it is necessary to find other ways, for example, to use the profit from exports that are not related to energy.

Now 7 banks in Iran are ready to begin a new way of working.

This month, Chairman of INSTEX Michael Erhard Bock has visited Tehran, where he has met with representatives of Germany and Iran in order to discuss the difficulties that hinder to freely conduct operations.

Iran is trying to disseminate the mechanism in the EU, which makes it possible to export and receive revenue from this.

Tehran has reduced the elaboration of obligations under the JCPOA for three times. Now it has given the EU two months to export oil from Iran in accordance with its obligations.

 

The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company
UFT Group

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