Over a year since its launch, the EU’s INSTEX financial mechanism – designed to facilitate trade with sanctions-hit Iran – has not carried out any operations, Iran’s ambassador to Russia Kazem Jalali has revealed.
“The Europeans have developed the INSTEX mechanism, but to date, as I’m talking to you, no transactions has been made,” Jalali said during a meeting with Konstantin Kosachev, chair of the Foreign Affairs Committee in the Russian senate.
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