International energy news providers say Iran’s announcement that the country is still selling its oil despite US sanctions is not without foundation.

In a joint statement, London, Paris and Berlin welcomed the Scandinavian states move to join Instex, considering that it supports the European efforts to facilitate the legitimate trade with Tehran.

Iran plans new steps cutting the Iran nuclear deal in early September, according to Russian Deputy Foreign Minister Sergey Ryabkov. 

Russia is calling on European signatories of the Joint Comprehensive Plan of Action (JCPOA) to make INSTEX a truly efficient mechanism for doing trade with Iran, as the nuclear deal cannot be saved in other case, Russian Foreign Minister Sergey Lavrov said on Tuesday.

Russia has signaled its willingness to secure Iran's interests in the oil and banking sectors if Europe's non-dollar mechanism aimed at facilitating trade with the Islamic Republic is not launched.

German Foreign Minister Heiko Maas said Monday said that a payment channel that the three EU signatories to Iran’s nuclear deal have set up to maintain trade with Iran will be ready soon.

German Foreign Minister Heiko Maas says his country remains firm in supporting the 2015 nuclear deal but can't pull off "miracles" in the face of US pressures on Iran. 

EU countries previously introduced the Instrument in Support of Trade Exchanges (INSTEX) in order to bypass US sanctions against Tehran and protect the European companies against the secondary sanctions.

Iran’s Foreign Minister Mohamamd Javad Zarif slammed EU on Sunday over delay in the implementation of the new mechanism for non-dollar trade with the Islamic Republic.

A European delegation will visit Tehran in the coming days to discuss the operation of a new channel for non-dollar trade which the bloc has set up to continue business with Iran and circumvent US sanctions.

Iran said Monday it expects more from the European Union to put its alternative payment channel in practice.

Europeans need to do more than talk if they want to preserve a deal meant to keep Tehran from obtaining a nuclear weapon after the unilateral withdrawal of the United States, Iran’s foreign minister said yesterday, blasting Washington as the “biggest source of destabilization” in the Middle East.