Iran private sector welcomes INSTEX, vows to make it ‘big success’

INSTEX (Instrument in Support of Trade Exchange) is the new denomination of Europe’s special purpose vehicle (SPV) that’s been designed to include trade of pharmaceuticals, medical devices and agri-foods between three European countries and Iran in the face of unilateral US sanctions.

INSTEX preserves Europe’s economic sovereignty: Austria envoy

The European Union has set up and registered a special purpose vehicle to do "legitimate business" with Iran in the face of unilateral US sanctions. A top European diplomat believes such a payment channel will also benefit the Union’s 28 member states as well as Iran.

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Austria calls for ’fast’ actions to make INSTEX operational

Austrian Ambassador to Iran, Stefan Scholz, calls the establishment of INSTEX (Instrument in Support of Trade Exchange) a "huge success", saying the new European financial mechanism has helped Iranian currency rial recover after recent falls in value following US unilateral sanctions.

Austrian companies ready to trade with Iran within INSTEX: envoy

After the nuclear deal was signed and ratified in 2015, many European businesses jumped to seize the opportunity to engage in commercial activities with Iran. But, restored US sanctions torpedoed their cooperation. Now, with European financial channel in place, they are eager to resume trade.

4th round of oil sales on internal exchange market: Iran issues statement in English

First and second rounds saw anonymous clients buy nearly a million barrels. But, there were no buyers for the third round that was held on 21 January.

Europe registers INSTEX, Iran welcomes move

The long-awaited special purpose vehicle to facilitate Iran-EU trade in the face of renewed US sanctions has officially been put in place in France. It’s waiting for a similar Iranian entity and several other factors to become operational.

Iran’s MAPNA kicks off construction of 540MW Latakia power plant

The project is part of a bigger long-term strategic economic cooperation agreement between Iran and Syria that was signed in Damascus by Iran’s First Vice President Eshaq Jahangiri and Syrian Primer Minister Imad Khamis in Damascus on Monday.

Iran, Syria sign 11 agreements as part of long-term strategic econmic coop

The documents allow Iranian direct investment as well as joint ventures in a wide range of fields. The most important is a banking agreement that will further facilitate trade between the two countries.

Syrian govt. calls for Iranian investment in petrochemical companies

Syrian industry minister says such companies can provide the materials that are used in a hundred other industries which will boost economic output.

Iran private sector offers Syria direct investment, joint ventures

Eying Syria’s multi-billion-dollar reconstruction market, Iran private sector has put on table a wide range of proposals to bolster Syrian economy and breathe fresh air into the Arab country’s destroyed industry.