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Global Trade & Sanctions LawPublished on:
INSTEX Becomes Operational but Is It Too Little, Too Late?
Announced last week, “INSTEX had been made operational and available to all EU Member States.” INSTEX is the special purpose financing channel designed by the EU to permit the processing of payments for trade between the EU and Iran. INSTEX was deemed necessary by the EU in light of the refusal by many private banks to process payments for trade between the EU and Iran that continues to be authorized by the EU despite the U.S. withdrawal from the Joint Comprehensive Plan of Action (JCPOA) resulting in the re-imposition of U.S. sanctions.
