Global Trade Review
John Smith spoke to Global Trade Review about the European government’s announcement that Instex, the European trade vehicle set up to bypass U.S. sanctions on Iran, has successfully completed its first transaction.
John discussed concerns that larger corporates and financial institutions will be unwilling or unable to support Instex, meaning its capacity is likely to remain limited.
“Instex has had its first transaction – a test case in some senses – but it remains unclear whether it will be a system that can become operational in a significant way,” John said, adding that other vehicles for providing aid in Iran have emerged since Instex was developed, which have gathered greater support from the U.S. government.
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