French Embassy to Iran announced arrival of Director of INSTEX Per Fischer in Tehran late on Monday, adding that he held talks with head of German, French and British representative offices in the capital.

INSTEX director arrives in Tehran

Head of the trio’s missions welcomed Per Fischer, whose visit to Tehran is a major step for discussing operationalizing the trade mechanism between Iran and Europe.

On January 31, foreign ministers of Germany, France and Britain declared that the official payment channel of Iran and EU was registered as the Instrument in Support of Trade Exchanges (INSTEX).

The mechanism will initially cover foodstuff and medicine, but its range will broaden gradually.