Iran - INSTEX - Q&A from the press briefing (31 Mar. 20)

Q: Can you confirm that an initial transaction with Iran took place via the INSTEX mechanism?

A: We can confirm, along with Germany and the United Kingdom, that INSTEX successfully completed its first transaction, facilitating the export of medical equipment from Europe to Iran. Now that the first transaction has been carried out, INSTEX and its Iranian counterpart, STFI, will continue their cooperation on further transactions and on developing the mechanism.

The purpose of INSTEX is to offer a sustainable, long-term solution to support legitimate trade between Europe and Iran, in accordance with continued efforts to preserve the Vienna Agreement on the Iranian nuclear issue (Joint Comprehensive Plan of Action - JCPoA) endorsed by UN Security Council Resolution 2231. These voluntary efforts come in addition to the commitments to lift sanctions set forth by the Vienna Agreement, which the E3 has already fully fulfilled.

We continue to urge Iran to once again comply with its nuclear obligations under the JCPoA and to cooperate fully with the International Atomic Energy Agency (IAEA) so that it may implement its verification mandate. We reaffirm our desire to pursue a constructive dialogue with Iran in line with the mechanisms and procedures provided by the Vienna Agreement.