Paris, London and Berlin welcome six new European countries to the INSTEX barter mechanism, which is designed to circumvent US sanctions against trade with Iran by avoiding use of the dollar
A man counts Iranian rials at a currency exchange shop, before the start of the US sanctions on Tehran, in Basra, Iraq November 3, 2018.
"As founding shareholders of the Instrument in Support of Trade Exchanges , France, Germany and the United Kingdom warmly welcome the decision taken by the governments of Belgium, Denmark, Finland, the Netherlands, Norway and Sweden, to join INSTEX as shareholders," the three said in a joint statement.
The accession of the six new members "further strengthens INSTEX and demonstrates European efforts to facilitate legitimate trade between Europe and Iran", France, Germany and Britain said. They insisted Iran must return to full compliance with its commitments under the deal "without delay".
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