INSTEX cannot deal with U.S. sanctions; Political Journalist

Speaking to ILNA news agency, she added that even lowering its obligations does not mean that they want the agreement to be annihilated; they want to make other members of the agreement fulfill their obligations towards Tehran.

"None of the signatories of the consensus wants to eliminate it, and everyone emphasizes the need for a continued nuclear deal."

Hynes said by regarding Trump's pressures and withdrawal from the agreement, it is very difficult to fulfill the European obligations, and adding "On the other hand, I see the rise in tension between Iran and the United States as a factor in the failure of the European commitments to be fulfilled."

"This is very important because Europe cannot be a good help for Iran because of increased tensions between Iran and the United States and the fear of the United States," she said.

"The implementation of INSTEX can actually hold Iran in agreement, and it is hoped that the deal will be secured through an INSTEX continuation agreement."

On January 31, three European countries – France, Germany and the UK (shortened as E3) – officially announced the creation of the Instrument in Support of Trade Exchanges (INSTEX), a special purpose vehicle, to allow them bypass US sanctions on trade with Iran. INSTEX facilitates non-dollar trade with Iran, allowing European companies to trade with the Islamic Republic without being hit by the sanctions.

The Political journalist believed in fact, this mechanism may not be able to compensate for the heavy US sanctions against Iran, because the US sanctions against Iran are very severe and I think it may not be possible to deal with these sanctions well.

She added, "I emphasize the role of Russia and China in maintaining an agreement on Iran, and I believe that they should make a major effort to help Iran reduce its economic pressure."

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