Payment Channel

Spain says it’s ‘studying’ to join European INSTEX to do trade with Iran

Madrid says PM Sánchez is considering plans on how to join the E3 in the financial channel with Iran that has been created to allow humanitarian trade and other items in the future.

Trade

CBI eyes more SPVs with ‘friendly neighbours’ to counter US sanctions

Iran’s main financial institution has devised a six-point contingency plan to resist possible consequences of the US move no to renew sanctions waivers for clients of Iranian energy.

Money and Capital Markets

INSTEX Iranian counterparty ready for ‘coordinated’ trade exchange: CEO

Special Trade and Finance Instrument between Iran and Europe (STFI), called SATMA in Persian, was registered on 22 April in Tehran in a bid to further facilitate Iran-Europe trade in the wake of US sanctions.

Money and Capital Markets

Iran-Swiss banking ties to increase ’soon’: CBI

The two countries see a rise in their banking relations after the Swiss humanitarian trade channel becomes finally functional to allow the trade of non-sanctioned humanitarian goods.

Trade

Iran registers INSTEX mirror company for trade with Europe

The move comes several days when the Central Bank of Iran had announced it would unveils the mechanism soon after INSTEX President Per Fishcer held talks with Iranian stakeholders in Tehran. The channel has been called Instrument for Finance and Trade between Iran and Europe.

Money and Capital Markets

Iran, Bangladesh seek special payment channel to skirt dollar transactions

The South East Asian country is the world’s larges exporter of kenaf, widely used in global textile industry. However, the product’s exports to Iran have seen a sharp fall since the US reimposed sanctions on Iran last November. Two countries are looking to circumvent dollar in their financial dealings.

Money and Capital Markets

Iran to register INSTEX mirror company soon, calls it STFI

The announcement comes after a visit to Iran by INSTEX president Per Fischer to work out details of the payment channel. Negotiations have been going on in various levels so that the channel starts work soon.

Money and Capital Markets

Indian SPV with Iran running since 6 months ago: Envoy

New Delhi says it knew that US President Donald Trump Administration would withdraw from the nuclear deal and reimpose sanctions. So, it started to put in place a Special Purpose Vehicle (SPV) to make sure its trade ties with Iran are secured.

Trade

INSTEX president in Iran to work out details

Per Fischer, the former German banker who has been appointed to run the European special payment channel INSTEX, has arrived in Iran in a bid to iron out the details of the financial scheme.

Trade

Iraq pays out part of debts for energy imports: Central Bank of Iran

Baghdad’s imports of gas and electricity from Iran equal four billion dollars however it’s not been able to pay the price due to financial restrictions caused by renewed US sanctions.

Money and Capital Markets