E3 launch INSTEX to facilitate European trade with Iran

Yesterday (31 January 2019), France, Germany and the UK (together, the E3) announced the creation of INSTEX (Instrument for Supporting Trade Exchanges) – a Special Purpose Vehicle (SPV) aimed at facilitating legitimate trade between European businesses and Iran. INSTEX has been registered but is not yet operational. The E3 Joint Statement notes that INSTEX will focus “initially on the sectors most...