Netherlands plans to join INSTEX

The Dutch government announced that it plans to join INSTEX to do business with Iran

The Dutch government announced that it plans to join the financial mechanism of Instrument in Support of Trade Exchanges (INSTEX) to do business with the Islamic Republic of Iran.

The Dutch government, in response to the Parliament questions about EU measures to counter the U.S. sanctions against Iran, wrote a letter to the leaders of the country's legislative body on Wednesday, noting its support of the INSTEX, announced its plan to invest and join this European financial mechanism.

The members of the Dutch cabinet, referring to trading exchange system known as INSTEX, also said that the Netherlands has always expressed its support for the INSTEX and has announced its readiness to become a shareholder.

Dutch government officials added, "Before the Netherlands could become a shareholder in the system, the INSTEX should be well developed as the final decision will be time consuming.”