Sweden eyes entering INSTEX to resume Iran trade

Many countries are considering joining the European payment mechanism. Sweden, after Finland, is the second Scandinavian country to express readiness to be part of the trade channel.

Sweden says it wants to join the European trade mechanism with Iran, INSTEX, as many European nations are expressing their readiness to be part of the channel.

"Sweden wants to keep doing business with Iran and that is why we want to join INSTEX," Swedish Ambassador to Russia Peter Ericsson was cited by RIA Novosti as saying on Wednesday.

The envoy added that other nations can also join INSTEX after France, Germany and the UK created it.

"Following the first year after signing of the JCPOA, Sweden had good trade relations with Iran and now Stockholm hopes this can improve that," according to the Swedish diplomat who was referring to the official denomination of 2015 Iran nuclear deal.

Ericsson mentioned that his government disagrees with the US policy towards Iran.

source: ICCIMA