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Graphic shows how INSTEX special purpose vehicle could work.
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أعمال

آلية الأغراض الخاصة لتمكين التجارة مع إيران

February 13, 2019 - Germany, France and Britain have launched an EU-backed “special purpose vehicle” (SPV) to insulate trade with Iran from U.S. sanctions on Tehran. Called INSTEX, the SPV is a mirror image transaction system.

The European Union has been trying to keep Iran in the Joint Comprehensive Plan of Action (JCPOA) nuclear deal since U.S. President Donald Trump pulled out in May 2018.

INSTEX would match a European trader buying Iranian oil to a European manufacturer selling machinery to an Iranian company.

The European oil buyer would not pay the Iranian exporter but would instead send its payment via INSTEX to the European manufacturer.

At the same time in Iran, the Iranian machinery buyer would not pay the European seller but would instead send its money to the Iranian oil seller. This trade channel replaces sanctionable international bank transfers between Europe with payments that do not cross Iran’s borders.

Sources
PUBLISHED:13/02/2019; STORY: Graphic News
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