EU’s Collusion with Iran

On January 31, Britain, France and Germany announced a new payment mechanism known as the Instrument in Support of Trade Exchanges (INSTEX). It was designed to preserve the Joint Comprehensive Plan of Action (JCPOA), also known as the Iran nuclear deal, after the US left the deal in May 2018 and reinstated — as well as broadened — US sanctions on the country in November 2018. The main purpose of INSTEX is to ensure that Europe — and potentially third countries – can continue doing business with the mullahs in Iran without risking US penalties for contravening US sanctions.