By Maya Lester QC & Michael O’Kane

Iran Central Bank asks IMF to use INSTEX for loans

The Governor of the Central Bank of Iran (CBI) has requested the International Monetary Fund approve $5 billion in loans to assist Iran with the outbreak of Covid-19. CBI has suggested the loans be processed via the EU’s special purpose vehicle INSTEX or the Swiss Humanitarian Trade Arrangement, both of which were established to facilitate humanitarian-related transactions with Iran (see …

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About Michael O'Kane

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Michael is Senior Partner at Peters & Peters LLP. He has acted in many of the most high profile and sensitive business crime cases of the last 25 years, at Peters & Peters LLP...

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