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Today, Sunday، 25 Aug 2019 - 00:36

Acronym References

What is INSTEX ?

Instrument in Support of Trade Exchanges

The Instrument in Support of Trade Exchanges (INSTEX) is a special-purpose vehicle (SPV) established in January 2019 by France, Germany and the United Kingdom to facilitate non-dollar trade with Iran. The SPV is headquartered in Paris, France, and is headed by German national Per Fischer, who formerly served as Head of Financial Institutions at Commerzbank, between 2003 and 2014.

On 11 February 2019, Russian deputy foreign minister Sergei Ryabkov said that Russia will seek to participate in INSTEX.