localization rewind: This political act of will is needed in order to convince Tehran that the EU is sticking to the July 2015 nuclear agreement with Iran so that it will continue to exist, despite America's withdrawal, according to Deutsche Welle. Watch video Share ; DW PLAYER.localization rewind Back 10 seconds settings Settings hd Quality fullscreen Full screen cc Closed captions next Up Next up playlist Playlist pause Pause play Play player Video player prev Previous next Next close Close replay Replay volume Volume ; Share New financial mechanism means European businesses Send Facebook Twitter google Whatsapp Tumblr linkedin stumble Digg reddit Newsvine Permalink financial mechanism means European businesses Complicated preparation The project is no small feat. Three European leaders Germany, France and Great Britain came together to found the Paris-based Instrument for the Support of Trade Exchange INSTEX . If it takes shape, more states will join. Before the special purpose vehicle can conduct business between European companies and Iran that is, before it can become operational its founding members, as well as Per Fischer, the German director of INSTEX, will have to carry out complicated preparatory work to set the stage for its rollout. For this, INSTEX will need to determine how great a need there is and who is interested, not least in order to give the Iranians time to implement necessary steps. INSTEX must first concretely formulate which services it will offer interested companies.
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