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Iran’s rep. to UN: INSTEX is a nice car without gasoline

The UniCredit SpA headquarters stand in Milan, Italy
The UniCredit SpA headquarters stand in Milan, Italy

Analysis by PMOI/MEK


Iran, June 30, 2019 - Majid Takht Ravanchi, the representative of Iran’s regime in the United Nations, described the INSTEX mechanism launched by the European Union aimed at bypassing various U.S. sanctions on Iran, as insufficient on Saturday.

“This mechanism without any money is similar to a very beautiful car without gasoline,” he said. “INSTEX, in its current circumstances, is not enough. Europe should take practical measures to maintain the 2015 nuclear deal (known as the Joint Comprehensive Plan of Action – JCPOA) intact. Simply announcing global support for the JCPOA will not resolve our problems,” Ravanchi continued.

A Majlis (parliament) member in Iran described any hope in INSTEX as a strategic mistake.

“They were supposed to even provide for the shortage of drinking water through the JCPOA. Instead, they have inflicted severe dilemmas into the currency market, and furthermore in our industries and production lines,” Javad Hosseini said.

“Another strategic mistake by the government is to have hope in the Europeans in implementing INSTEX. This financial mechanism will result in nothing but wasting the country’s time and energy,” he said, emphasizing on the importance of not relying all of the government’s policies on the JCPOA.