Fri, 05 Jul 2019 12:03 - Updated Fri, 05 Jul 2019 12:03
Germany working at top speed to get Iran barter scheme running: spokesman
BERLIN - Germany is working hard to reach the point where the first transactions can be carried out under a special trade channel being set up to enable trade between Iran and European exporters, a German Foreign Ministry spokesman said on Friday.
Send by email
To share this news by email, fill out the information below and click Send
To report errors in the texts of articles published, fill out the information below and click Send
Spokesman Rainer Breul said European industry had a great interest in the system being brought online, which will make it possible for trade between EU members and Iran to continue despite stiff U.S. sanctions in place since Washington quit a 2015 nuclear accord.
Set up by France, Britain and Germany, Instex is a barter trade mechanism that aims to avoid direct financial transfers by offsetting balances between importers and exporters on the European side,REUTERS.
- 05/07/2019 12:00:07
LONDON- OPEC oil output sank to a new five-year low in June as a rise in Saudi supply did not offset losses in Iran and Venezuela due to U.S. sanctions and other outages elsewhere in the group, a Reuters survey found.
- 05/07/2019 11:58:05
NEW DELHI - Indian Prime Minister Narendra Modi’s government raised import tariffs on nearly 75 items including gold and automobile parts in its federal budget on Friday and increased taxes on the rich to hold down the fiscal deficit as it tries to revive growth.
- 04/07/2019 13:29:04
MOSCOW - Russian President Vladimir Putin signed legislation suspending a 1987 nuclear missile treaty, according to the law published on Wednesday on an official government website.