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.

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.

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.

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.

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.

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.

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.

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.

Swiss humanitarian payment channel with Iran ‘ready’, awaits capital

Switzerland, 60% of whose exports to Iran are medicine, has been hard at work to allow the creation of a humanitarian payment mechanism that helps the uninterrupted flow of humanitarin goods to Iran in the face of renewed US sanctions.

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Swiss companies refuse Iran trade out of fear of US retaliation

Iran-Switzerland Joint Chamber of Commerce President, Sharif Nezam-Mafi says US sanctions have hindered the flow of vital medicine into the country, leading to a shortage of much-needed cancer drugs, especially for kids. He says Swiss companies do not deal with Iran out of fear of retaliatory US measures.