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Iran, EU discuss ways to strengthen INSTEX

Abbas Araghchi (C-R), political deputy at the Ministry of Foreign Affairs of Iran, and the Secretary General of the European Union External Action Service (EEAS) Helga Schmid (C-L) attend a Meeting of the JCPOA Joint Commission on Iran's nuclear program at the EU Delegation to the International Organizations office in Vienna, Austria on February 26, 2020. (Photo by AFP)

Homa Lezgee
Press TV, Vienna

Iran and the remaining signatories of the nuclear deal, Britain, France, Germany, Russia and China hold a Joint Commission meeting in Vienna led by Iranian Deputy Foreign Minister Abbas Araqchi and the EU’s Helga Schmid.

Araghchi says Iran is ready to reverse the steps it has taken to reduce its nuclear commitments in return for the three European sides compensating for the US withdrawal and reimposed sanctions.

One way to partially restore trade with the EU is using the financial mechanism known as INSTEX. 

The Chinese ambassador said participants agreed this was not the time to trigger the dispute resolution mechanism that could eventually lead to a snapback of UN sanctions against Iran.

According to Iran, the important message from this session, is that the nuclear deal is still alive although the US policy of "maximum pressure" is being inflicted not only on Tehran but also on the three European signatories of the JCPOA.

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