INSTEX

Iran’s private firms call for stronger export credit guarantees to counter US sanctions

In a letter to President Hassan Rouhani, private sector representatives have called on government to give more authority to the Export Guarantee Fund of Iran with regard to issuing export guarantees, according to the EGFI chief.

Trade

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

Bernd Erbel, newly-appointed INSTEX president, resigns

Erbel was set to replace former German banker Per Fischer as INSTEX president after the latter’s six-month period came to an end with no tangible results at the end.

Financial Markets

France proposes Iran $15bn credit line to run INSTEX: Report

France has reportedly proposed Iran a credit line of $15bn to run the European payment channel with Tehran, INSTEX, as Iran threatens to reduce more of its nuclear commitments in coming weeks.

Financial Markets

Sweden eyes entering INSTEX to resume Iran trade

Many countries are considering joining the European payment mechanism. Sweden, after Finland, is the second Scandinavian country to express readiness to be part of the trade channel.

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

Denmark considering joining INSTEX

The Scandinavian nation wants to be included in the European payment channel with Iran in a bid not to lose the Iranian market in the wake of US unilateral sanctions.

Financial Markets

Trading house: Russian, Ukrainian INSTEX for trade with Iran

Ukrainian and Russian officials have separately called for the establishment of a trading house between their respective countries and Iran. A trading house could have various purposes but what Ukraine is proposing is much like Europe’s INSTEX to facilitate bilateral trade in the wake of US sanctions.

Financial Markets

Russia wants in on INSTEX

Kremlin has thrown its weight behind the EU’s efforts to boost trade with Iran in the wake of US sanctions. Brussels says it will bring the mechanism online before other members can join it.

Financial Markets

60 German companies still in Iran despite US sanctions: German industry delegate in Iran

Iran-German trade ties have seen recent downs due to the US sanctions but those measures haven’t stopped dozens of such companies to leave Iran altogehter.

Trade