Iran Leaves Door Open to Pause in Its Nuclear Escalation As Europe Gears up Trade Mechanism

June 28, 2019

Author: 

Laurence Norman

Publication: 

The Wall Street Journal

Following a meeting between British, Chinese, French, German, Iranian, and Russian diplomats in Vienna, Iranian Deputy Foreign Minister Abbas Araghchi said that Iran would move ahead with its plans to exceed limits on uranium enrichment set by the Joint Comprehensive Plan of Action (JCPOA), despite European objections. However, Araghchi lauded Britain, France, and Germany's progress on Instex, a special purpose vehicle designed to facilitate European trade with Iran by circumventing American economic sanctions. He implied that further progress on Instex could convince Iran to halt its plans to violate the JCPOA. Austria, Belgium, Finland, the Netherlands, Slovenia, Spain, and Sweden announced that they plan to become involved in Instex. The Netherlands added that it intends to join Instex as a shareholder.