INSTEX will provide opportunities for British firms to engage with Iran: UK Commissioner

Simon Penney, the British government’s Trade Commissioner for the Middle East, Afghanistan and Pakistan has said in talks with Hossein Selahvarzi, Vice President of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) that European financial mechanism can facilitate trade with Iran.

Iran, the one country in region British firms keen on doing business with: UK commissioner

Simon Penney, the most senior British trade commissioner is in Iran in a bid to see for himself trade and business opportunities with for UK-based companies in Iran. He reiterated that British firms are very keen on developing their business ties with Iran from all the countries in the region.

High-level European delegation to visit Iran to hammer out INSTEX

INSTEX, whose creation was announced on the last day of January, can function when there is a similar company in Iran that will be supervised by the Central Bank of Iran. Now, a high-level European delegation is set to travel to Iran to hold talks on details.

Iran to unveil company similar to INSTEX ‘soon’: CBI

INSTEX was created by Germany, France and the UK on the last day of January after months of deliberation by European countries. Its a financial mechanism meant to provide a legal and transparent channel in which Europe engages in trade of non-sanctioned goods with Iran following US sanctions.

Iran exports to Russia up 36% in 2018

Tehran has been eyeing a bigger share of the Russian market by increasing its exports to the country which has led to a hike in their bilateral trade.

Russia to join INSTEX as ruble replaces dollar in Tehran-Moscow trade

The special purpose channel was launched late January as part of the European Union efforts to help Iran enjoy the economic dividends of the nuclear deal that’s been jeoperdised by the US walkout last May.

Tehran tells Beirut to trade in Lebanese pound

Iran’s trade relationships with Lebanon are not very significant compared with Syria or Iraq. Foreign Minister Zarif’s recent visit to the Middle Eastern country has been aimed at pushing economic cooperation.

Iran, Iraq open non-dollar payment channel in defiance of US sanctions

Tehran’s initiatives to avoid using US dollar in its interantioanl trade can consolidate warmer political and economic relations with its neighbours and regional countries. Such mecahnisms as well as Europe’s INSTEX could finally help it alleviate problems caused by punitive US measures.

12 proposed products to export to Iran through INSTEX

The European Union and in particular, Paris, Berlin and London have been working out ways to continue what they call "legitimate trade" with Iran in a bid to lessen the effect of unilateral US sanctions that have been hampering financial transactions.

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Iran Chamber of Commerce urges Europe to push private firms to trade with Iran via INSTEX

Pedram Soltani, Vice President of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) says European governments should encourage their private sector companies to use INSTEX for trade with Iran. He believes the mechanism could take up to a year to become operational.