EU foreign policy chief Federica Mogherini has welcomed the Instrument In Support Of Trade Exchanges, or INSTEX, set up by France, Germany and Britain to facilitate Iran global trade.
"I welcome today's registration of INSTEX SAS (Instrument for Supporting Trade Exchanges), a Special Purpose Vehicle with France, Germany and the United Kingdom as initial shareholders," she said.
According to Mogherini, the instrument will provide economic operators with the necessary framework to pursue legitimate trade with Iran.
The High Representative/Vice-President said that the European Union supports further developing INSTEX with interested European countries and open it, at a later stage, to economic operators from third countries, according to the statement posted on the EU official website.
