New mechanism for European trade with Iran is legitimate - Germany's BGA

FILE PHOTO: A gas flare on an oil production platform in the Soroush oil fields is seen alongside an Iranian flag in the Persian Gulf, Iran, July 25, 2005. REUTERS/Raheb Homavandi - Copyright Raheb Homavandi(Reuters)

By Reuters

Published on 01/02/2019 - 11:04•Updated 25/04/2024 - 17:55

Comments

BERLIN (Reuters) - A new channel for non-dollar trade with Iran that France, Germany and Britain have opened to avert U.S. sanctions is legitimate and sends an important signal of Europe's reliability as a trade partner, Germany's BGA trade association said.

BGA President Holger Bingmann said on Friday that questions nonetheless remained about the exact structure of the Instrument In Support Of Trade Exchanges, or INSTEX.

(Reporting by Riham Alkousaa and Tassilo Hummel; Writing by Michelle Martin; Editing by Joseph Nasr)

Comments

You might also like