INSTEX "made operational" - Trade between EU and Iran starts

"The Joint Commission was chaired, on behalf of the EU High Representative Federica Mogherini, by EEAS Secretary General Helga Schmid and was attended by the E3+2 (China, France, Germany, Russia, United Kingdom) and Iran at the level of Political Directors/ Deputy Foreign Ministers.

In view of recent concerning statements and developments, participants recalled the key importance of continued full and effective implementation of the agreement by all sides. At the same time, participants recalled that the lifting of sanctions is an essential part of the agreement and reviewed their respective commitments in this regard.

France, Germany and the United Kingdom informed participants that INSTEX had been made operational and available to all EU Member States and that the first transactions are being processed. Ongoing complementary cooperation with the Iranian corresponding entity (STFI), which has already been established, will speed up.

They confirmed that some EU Member States were in the process of joining INSTEX as shareholders, the special purpose vehicle aimed at facilitating legitimate business with Iran. They are also working to open INSTEX to economic operators from third countries."

https://eeas.europa.eu/headquarters...-joint-commission-joint-comprehensive-plan_en

 

So net it out for us.
Is the EU going to buy oil from Iran?

 

Read where this was set up by Europe to help Iran skirt US sanctions, but Iran is not that keen on it because Europe will be trading mostly humanitarian or non-sanctioned goods when Iran is really interested in oil. khameinei called it a "bitter joke." Supposedly European companies must decide whether they want to sell to the US or Iran because they can't do both. Where would they make more money? Iran is using Europe and Europe is trying to placate a terrorist nation. What are you people THINKING?

 

Europe is trying to keep a UN Treaty which was 12 years in the making. The US meanwhile is trying to force the world to break it and go to war with Iran for its little baby Israel. The US is intent on destroying International Law. Sort out your own countries actions before you make up things about others.

 

If, as I have heard Europe is still going by US sanctions and just doing business on other things then Iran has every reason to be pissed and to start building nukes again. Funnily enough twice I have heard it said that the reason she started edging towards going against the Treaty, keeping more of something than she should was because the US has made it impossible for her to export this. People believed this was deliberate, the US as usual desperate for war.

 

Still in debate but could happen soon.

 

Well Europe doesn't have to worry about their UN Treaty any longer as Iran officially broke it today. The U.S. was never a party to a treaty with Iran, so we didn't break anything.

Good luck with your new islamic bed fellows.

 

Of course the US was in a treaty with Iran. Obama signed it. He has that power that he could do that in the name of the US. And Iran just breaks it because the treaty is not being upheld,.. also by Europe since it's companies stopped doing business with Iran... all because the EU was dead slow on the INSTEX trade. And so, there was no reason for Iran to be the only one sticking to that treaty, hence they are making them come back to the table with this "stunt".

 

It's good as a whole. The EU not using the $ to buy oil,... I mean, why should they?

 

It seems like if they don't buy oil, it's not going to change Iran's mind on staying in the treaty.

 

Nope, it was not!

 

I don’t know what shithole country you live in, but we have checks and balances, POTUS is not our emperor and treaties are subject to ratification by the senate.
We never had that treaty because 0bama didn’t submit it to the senate. Your liberal idol let you down one more time.

 

Who cares what they use to buy oil?
When you want advanced technology you pay in USD because that’s our currency. Most advanced semiconductors and software require licensing from a US company and you need USDs to pay us for stuff that your shithole country can’t produce on its own.

 

If they don't use it to buy oil, I'm not sure why they need it.

 

Why they need USD?
Find me a modern TV, smartphone, tablet or a laptop that doesn’t have American hardware or software to which you must pay royalties and license fees. How about business suite programs like Windows, Office, SQL, etc? And I’m not even talking about entertainment like music, movies, shows and video games.

Educate yourself before posting. You don’t look very smart when you post things like that.

 

I think we crossed wires somewhere. We were talking about the EU getting away from using the dollar to buy from Iran. If they don't use the same system to buy oil from Iran it is only a token gesture.

 

Indeed it is... and they kind of already started. Seems obvious that they would.

 

Says so right here that the US did.
https://en.wikipedia.org/wiki/Iran_nuclear_deal_framework

 

Don't forget, even if European countries approve trade with Iran, they could still be enforcing the criminalization of trade with Iran, like what happened to that Huawei executive who was arrested by the Canadians and sent to the US.

One hand of government was implementing one policy, while another hand of government was doing just the opposite. And nobody in the Canadian government seemed to care.

 

Well I know where I live,... but your check and balances are caveman constructions in the US, since the president can act like a loose canon.
https://en.wikipedia.org/wiki/Case-Zablocki_Act

 

Pff.... last time I checked the US had a massive trade deficit going. So that shithole nation of a US buys more crap from the EU than the other way around. So there would be plenty of dollars in the pockets of the EU.

 

I'm still not clear.
Are you saying the EU is currently buying oil using this new monetary system.

 

This is a very salty opinion my goodness but..praise all things MAGA that trade deficit is going to be dwindling over the next five years /wink

 

It seems to me like the pressures not to buy oil from Iran and further more from Russia, is just a mask to buy it from the US since it now it the biggest producer.

This is diplomacy for the benefit of Wall Street mainly. You have to buy it from where are the shareholders, God forbit from a nationalized entity, as in the case of Russia or Iran.

 

Nope, you got it wrong. This law is about classified information.