Payment Channel

Europe should pre-purchase Iran’s oil through INSTEX first: CBI chief

The governor of the Central Bank of Iran (CBI) has said that the Europeans should show their sincerity about their Instrument in Support of Trade Exchanges (INSTEX) by ordering Iran’s crude.

Financial Markets

INSTEX to renew management, services to fast-track Iran transactions: Report

In a push to process transactions more quickly, INSTEX is rolling out a new factoring service for European exporters. The company is also making new hires that will enable it to expand operations in the coming year.

Financial Markets

Europeans have failed to fully implement INSTEX: Foreign Ministry Spox

Emmanuel Bonne, the senior diplomatic aide to French President Emmanuel Macron is expected in Tehran later on Wednesday in a bid to talk about exit ways of the current nuclear dilemma. He many also talk about Europeans efforts to get INSTEX operational.

Financial Markets

Finland mulls joining INSTEX

The Scandinavian country says it’s considering options to be one of the European countries that use the payment channel to continue trade with Iran.

Financial Markets

STFI, INSTEX being tested: CEO

President of the Iranian payment channel as well as the European special trade vehicle with Iran are being tested by both sides in a bid to pave the way for their first transactions.

Financial Markets

France, Germany say INSTEX close to first deal in days

The two main European countries behind the European payment mechanism say they are working at top speed to bring the channel online very soon, preferrably before this Sunday when Iran will announce more commitments reduction.

Financial Markets

Iraq sets up SPV to buy Iranian power in wake of US sanctions: Report

AFP is reporting that a dinar-based account in Trade Bank of Iraq is supposed to be used to pay for Iranian energy in return for Tehran’s humanitarian purchases.

Financial Markets

INSTEX without capital is like a beautiful car without fuel: Iran

The Iranian representative to the UN says if capital is not injected into the European payment channel with Iran, it won’t suffice as it won’t be able to carry out financial transactions.

Financial Markets

EU’s INSTEX for trade with Iran ‘now operational’,

The European Union has announced that its INSTEX mechanism to facilitate trade with Iran was up and running on Friday.

Financial Markets

Europeans plan to inject capital into INSTEX: Report

Three European signatories to the nuclear deal of 2015, Germany, France and the UK, are expected to inject capital into INSTEX to open credit lines for European companies that are interested in doing business with Iran.

Financial Markets