Pompeo: EU-Iran trade mechanism 'unproblematic' for goods not under US sanctions

 Pompeo: EU-Iran trade mechanism 'unproblematic' for goods not under US sanctions
  • Clock-gray 13:43
  • calendar-gray 31 May 2019

Europe's mechanism for trade with Iran is not a problem for Washington as long as it is meant to facilitate the trade in goods that are not under US sanctions, US Secretary of State Mike Pompeo said Friday, APAreports citing Sputnik.

"When we think about INSTEX, if it is aimed at facilitating the movement of goods that are authorised to move, it's unproblematic", Pompeo said at a joint press conference with German Foreign Minister Heiko Maas in Berlin.

However, earlier this week Bloomberg reported, citing a letter written by the Treasury Department's undersecretary for terrorism and financial intelligence, Sigal Mandelker, that Washington planned to ban the system if it comes into force.

The Instrument in Support of Trade Exchanges (INSTEX) was set up in January of this year in response to the United States reinstating sanctions against Iran, including measures targeting third countries that trade with Tehran.

It was established after Washington withdrew from the Iranian nuclear deal last year, while other signatories, including Russia, China, the UK, France, Germany, and the EU, have reaffirmed their commitment to the agreement.

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