On Tuesday, April 23, the French Ministry of Foreign Affairs announced progress in the implementation of the financial transaction mechanism with Iran.
Recalling that France, Germany and the United Kingdom (E3) had created the Instrument In Support of Trade Exchanges, INSTEX, which is a financial compensation mechanism (see EUROPE B12184A1), the Ministry's press service stated that “the work undertaken is [progressing] positively with a view to an impending outcome”.
“Iran must also...