
European and Iranian officials attend a meeting of the JCPOA Joint Commission in Vienna, Austria, June 28, 2019.
The EU called the Joint Comprehensive Plan of Action (JCPOA) a "key element of global nuclear non-proliferation." The deal was in limbo after Washington left it a year ago and started piling up sanctions on Tehran, hampering its trade with other countries.
Now French, British and German officials say the trade mechanism, dubbed Instex, is operational. The mechanism would facilitate transactions between European and Iranian companies, bypassing the need for financial institutions like SWIFT to carry out exchanges. A payment balancing system will allow companies in Europe to buy Iranian goods, and vice-versa, without money-transfers between European and Iranian banks.














Comment: And the US tyrant is threatening MORE sanctions: