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    High Representative of the European Union for Foreign Affairs and Security Policy Federica Mogherini and Iranian Foreign Minister Mohammad Javad Zarif (R) react during a plenary session at the United Nations building in Vienna, Austria July 14, 2015.

    Mogherini, Zarif Agree to Work Together for Further Implementation of INSTEX

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    BRUSSELS (Sputnik) – EU foreign policy chief Federica Mogherini and Iranian FM Mohammad Javad Zarif at a meeting expressed their commitment to cooperate for further implementation of the Instrument in Support of Trade Exchanges (INSTEX), which allows bypassing US sanctions, the European External Action Service (EEAS) said in a statement.

    "They discussed the state of implementation of the Joint Comprehensive Plan of Action (JCPOA). The High Representative reiterated the EU's firm determination to preserve the JCPOA, which continues to deliver on its objectives and is crucial for both regional and global security. She also underlined the need for continued full and effective implementation of the deal by all parties, and in this regard both High Representative Mogherini and Minister Zarif discussed the recent registration of INSTEX in France and committed to work together for its further operationalization," the statement, published after the talks on the sidelines of the Munich Security Conference on Friday, read.

    The diplomats also addressed human rights and Middle Eastern crises.

    READ MORE: 'Picking Up Pieces of International Order' May Be Hard With US 'Throwing Stones'

    In late January, Germany, France and the United Kingdom said they had set up INSTEX which would initially deal with food and medicine.

    The US sanctions against Tehran were reinstated in 2018 after the United States withdrew from the Joint Comprehensive Plan of Action (JCPOA), which provided for the relief of economic sanctions against Tehran in return for Iran's pledge to keep its nuclear program peaceful.

    READ MORE: Iran Sanctions Won’t Clear EU ‘Responsibility For Harbouring Terrorists’ — Zarif

    China, France, Germany, Iran, Russia, the United Kingdom, and the European Union— the other signatories to the Iran nuclear deal — slammed Washington's withdrawal from the agreement and the reinstatement of sanctions, saying it threatened not only Iran but also countries and companies that continued to do business with Tehran.

    In this context, the remaining JCPOA signatories agreed that a special mechanism would be established to facilitate trade between companies and Iran amid the US sanctions.

    READ MORE: IAEA Confirms Iran Fulfills Nuke-Related Commitments Despite US Exit From Deal

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    Tags:
    instex, agreement, Munich Security Conference, Javad Zarif, Federica Mogherini, Germany, Iran, Europe
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