Iran frustrated as INSTEX moves at snail's pace

AVA- The European Union established the Instrument in Support of Trade Exchanges (INSTEX) in February, but conditioned its operation to Iran's ratification of the Financial Action Task Force (FATF) on money laundering and financing terrorism.
While Iran has ratified its own money laundering and anti-terrorism laws, it has reservations about joining the FATF which critics believe could compromise the country’s security.
According to Iran’s Foreign Ministry spokesman Bahram Qassemi, a European delegation of economic and technical experts will visit Tehran in the “near future” for talks with Iranian authorities.
Qassemi said the launch of INSTEX was the first step and that experts from the two sides were about to discuss issues related to its implementation.
The Europeans have insisted that INSTEX would initially focus on such sectors as pharmaceuticals, medical devices, and foodstuff, excluding oil and other trade.
That gravely falls short of Iran’s expectations, which have already been undermined by Europe’s intentional foot-dragging to have the payment system up and running.