European Union External Action

Statement by High Representative/Vice-President Federica Mogherini on the creation of INSTEX, Instrument for Supporting Trade Exchanges

Bruxelles, 31/01/2019 - 18:50, UNIQUE ID: 190131_15
Statements by the HR/VP

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.

The lifting of sanctions is an essential dimension of the JCPOA (Joint Comprehensive Plan of Action), the Iran nuclear deal. The instrument launched today will provide economic operators with the necessary framework to pursue legitimate trade with Iran.

We will continue to accompany the work of the Member States involved to make this vehicle operational as soon as possible in close coordination with the Iranian counterparts. We support their commitment to further develop INSTEX with interested European countries and open it, at a later stage, to economic operators from third countries.

The European Union continues to be committed to the full and effective implementation of the JCPOA in all its aspects as long as Iran continues to implement in full all its nuclear commitments, as set out by the agreement. The International Atomic Energy Agency (IAEA) has confirmed in thirteen consecutive reports that Iran is fully abiding by its commitments under the agreement.

Our joint work to preserve the JCPOA continues, including with the other JCPOA participants, and with international partners.

This is a matter of respecting international agreements and of advancing our shared regional and international security.

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