Nasser Kanaani’s Reaction to the Closure of INSTEX
Nasser Kanaani, the spokesperson for the Ministry of Foreign Affairs, in response to Europe’s announcement about the closure of the INSTEX financial system, stated that unfortunately, European governments, in addition to their inaction regarding other commitments, also failed in launching INSTEX effectively and did not take the necessary and essential actions to activate it as part of their commitments under the JCPOA.
According to Kanaani, these countries did not inject any financial resources or long-term credit lines into this channel throughout the entire duration of INSTEX’s operation.
He also added that Iran never relied on INSTEX and conducted its international trade through other international financial and banking channels.
Mr. Kanaani’s remarks come at a time when European countries have cited Iran’s lack of cooperation as the reason for INSTEX’s closure, stating that Iran has politically hindered the achievement of INSTEX’s objectives.
INSTEX was established after the U.S. government, under President Donald Trump, withdrew from the 2015 nuclear agreement between Iran and world powers.