mo4ch:>EU’s alternative payment channel for Iran is like a beautiful car without gasoline – Iran envoy | Mo4ch News

The EU’s efforts to facilitate trade with sanctions-hit Iran have not brought any concrete results, the Iranian envoy to the UN said, warning that his country is tired of waiting for Brussels to fulfil its commitments.“I personally believe that INSTEX [Instrument in Support of Trade Exchanges] in its current condition isn’t enough. This mechanism without money is like a beautiful car without fuel,” ambassador Takht Ravanchi told reporters in New York.Shortly before the diplomat’s statement, the European signatories to the nuclear deal with Iran, Germany, France and the UK, said that the alternative trade mechanism is already operational and the first transactions “are being processed.”Also on rt.comUS to punish anyone using EU's alternative payment system with Iran to skirt sanctionsThe payment system was created in January and was meant to bypass US sanctions against Tehran after Washington ditched the Joint Comprehensive Plan of Action (JCPOA), a deal with Iran to curtail its nu…