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Iranian MP: INSTEX is not transparent

19 March 2019 [17:35] - TODAY.AZ

By  Trend

INSTEX, the special financial mechanism formed between Iran and the EU, does not fully reflect transparency, Iranian MP Ahmad Alirezabeigi told Tasnim News Agency, Trend reports.

According to Alirezabeigi, this financial mechanism is incomplete and is an opportunity open for the time being, and this will not solve Iran’s problem.

"Restricting the country to a financial mechanism set by Europe for Iran goes against the Islamic Republic's national interests," he said.

The Iranian MP said that this could lead to alarming security problems for Iran in the future.

Alirezabeigi noted that, according to this financial mechanism, Iran's revenues from oil exports to Europe will be collected in the INSTEX account, adding that food and medical products will be purchased from European countries with that revenue.

"In other words, this mechanism is a barter of oil with products," Alirezabeigi said.

In late January 2019, the European signatories of the JCPOA (namely the UK, France and Germany) have officially announced the establishment of INSTEX, a special financial mechanism formed with Iran for backing the said agreement.


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