USA unleashes rage as new North Atlantic Treaty Organisation members join INSTEX

USA unleashes rage as new North Atlantic Treaty Organisation members join INSTEX

Belgium, Denmark, Finland, the Netherlands, Norway, and Sweden issued a joint statement on Friday announcing becoming shareholders of INSTEX.

The move was to push back against the United States, which unilaterally walked out of the nuclear deal previous year, re-imposed heavy sanctions on Iran's finances, foreign trade and oil production, and designated its elite Revolutionary Guards Corps a terrorist organization.

Belgium, Denmark, the Netherlands, and Norway are among North Atlantic Treaty Organisation members.

After the USA pullout, Tehran demanded that the European signees mitigate the damages inflicted on Iran's economy by the renewed US sanctions and it began exceeding some uranium-enrichment limits set out under the accord. Forty years of hostile relations between the two countries, as well as the attempt of two most recent US presidents to impose the toughest sanctions in history on Iran have brought the Iranian officials to the conclusion that the United States seeks to change the Iranian regime through either a real or a soft war or both. He says the countries were enabling Iran to develop nuclear weapons by enabling it to transact with the rest of the world. It was introduced on January 31 by France, Germany, and Britain, the three countries party to the nuclear deal. Meanwhile, Iran's response to the reimposition of sanctions within the framework of the U.S.

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On March 20, Iran's central bank governor Abdolnaser Hemmati announced that a mechanism similar to INSTEX has been registered in Iran, officially called the Special Trade and Finance Institute (STFI).

Belgium, Denmark, Finland, the Netherlands, and Sweden released a joint statement relating their intent to connect to INSTEX, short for the Instrument in Support of Trade Exchanges, a European special-purpose vehicle.

This step further strengthens INSTEX and demonstrates European efforts to facilitate legitimate trade between Europe and Iran and is a clear expression of our continuing commitment to the Joint Comprehensive Plan of Action (JCPoA).

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