News ID: 257575
Published: 0310 GMT August 20, 2019

CBI governor: Europe should support INSTEX

CBI governor: Europe should support INSTEX

Governor of the Central Bank of Iran (CBI) Abdolnasser Hemmati said that the Europeans should show their seriousness about implementation of the instrument in support of trade exchanges (INSTEX) by ordering Iran's crude.

"If the westerners are serious and determined about this issue (INSTEX), they should inject money to it equal to the extent that our oil revenues have been harmed or file for Iran's oil futures," Hemmati said in an interview with the state TV on Tuesday, Fars News Agency reported.

He stressed that if the Europeans want to keep the nuclear deal alive, they should implement their undertakings, noting that INSTEX should also include the sanctioned goods too.

Washington withdrew from the internationally-endorsed 2015 nuclear deal with Iran on May 2018, re-imposed the toughest-ever sanctions against the country and started a plan to zero down Tehran's oil sales.

Under the nuclear agreement reached between Iran and six world powers in July 2015, Tehran undertook to put limits on its nuclear program in exchange for the removal of nuclear-related sanctions.

Yet, Iran continued compliance with the deal, stressing that the remaining signatories to the agreement, especially the Europeans had to work to offset the negative impacts of the US pullout for Iran if they want Tehran to remain in compliance. The Iranian officials had earlier warned that the European Union’s failure in providing the needed ground for Tehran to enjoy the economic benefits of the nuclear deal would exhaust the country's patience.

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