Europeans launch long-awaited Iran barter mechanism in COVID-19 crisis

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France, Germany and Britain have made the first use of a bartering mechanism set up to circumvent U.S. sanctions against Iran, so they could send medical supplies to the crisis-hit country, the German Foreign Office said on Tuesday.

The delivery is a breakthrough in long-running European attempts to activate the Instex mechanism, aimed at enabling legitimate trade with Iran, despite the U.S. sanctions.

The supplies have arrived in Iran, the German Foreign Office confirmed, adding that Instex was working on further transactions with its Iranian counterpart organisation, STFI.

Iran is home to one of the worst coronavirus outbreaks globally, with around 41,500 cases of infection and more than 2,700 deaths, according to the latest figures from the Iranian Health Ministry. (dpa/NAN)

– Mar. 31, 2020 @ 13:35 GMT |

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