Germany aims to preserve Iran nuclear deal and INSTEX is part of it
Tehran, Iran, Oct.9
Germany 's effort is to preserve the Joint Comprehensive Plan of Action (JPCOA) while the Instrument in Support of Trade Exchanges (INSTEX) is only part of these efforts, said Deputy Head of German Mission in Iran.
"We have disagreement with Iran over a number of issues and criticize some of the policies, but we have the same opinion on preserving the Joint Comprehensive Plan of Action and we share similar concerns," said Oliver Schnakenberg, Trend reports citing IRNA.
"JCPOA is more than just an economic treaty, which aims to eliminate sanctions; it also shall help us to reach peace and security," he said during Iran and Germany trade meeting.
"Germany has criticized US withdrawal from the JCPOA; via European cooperation we try to reduce the effect of sanctions. Nine European countries have expressed readiness to join the Instrument in Support of Trade Exchanges mechanism, although the US has created problem for the INSTEX team," Schnakenberg added.
The deputy head of German mission went on to say: "Those who criticize INSTEX, do not know the problems; everyone is waiting for financial transaction, but the pace is not important. We should choose the right trade activities as the first move so that it can not be attacked by the US."
"Iran and Germany trade cut in half in the first six months of the year compared to the previous one. Many companies have closed their offices or downsized number of employees in Iran. The sanction threat and fines for Germany and even small companies are very serious. The German government has tried to support German companies, but since the US market is very important we can not protect them from sanction," he said.
"However, there are opportunities for joint activities with small and medium companies. Iran is a big market and has high potential, which we shall use," he added.