Published: November 30, 2019
Belgium, Denmark, Finland, Netherlands, Norway and Sweden sign up to Instex mechanism that sidesteps US sanctions
Paris, London and Berlin on Saturday welcomed six new European countries to the Instex barter mechanism, which is designed to circumvent US sanctions against trade with Iran by avoiding use of the dollar.
“As founding shareholders of the Instrument in Support of Trade Exchanges (Instex), France, Germany and the United Kingdom warmly welcome the decision taken by the governments of Belgium, Denmark, Finland, the Netherlands, Norway and Sweden, to join Instex as shareholders,” the three said in a joint statement.
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