Russian Deputy FM: INSTEX should be expanded

Moscow, Feb 11, IRNA - The Russian Deputy Foreign Minister stated Instrument for Supporting Trade Exchanges between Iran and Europe (INSTEX) should be expanded and should not be limited to general requirements and medicine. On the sideline of the 40th anniversary of the Islamic Revolution here, Russia's top nuclear negotiator Sergei Ryabkov on Monday in response to a question of IRNA correspondent regarding what is Russia's view on the functioning of INSTEX between Iran and Europe, stated that with the endurance and insistence of Iran, Russia and other countries interested in the European and Iranian financial mechanism, they can set up this supportive mechanism. He added, 'At the moment, we do not know much about the mechanism of Europe to support trade with Iran, except for what has been announced by the European officials and Troika (France, Britain and Germany) and the European Union foreign policy sector.' According to Ryabkov, the first phase of the work of the European financial mechanism will be of primary importance and the participation in this mechanism will be closed to third countries. 'We believe that making artificial and unrealistic demands is unconstructive,' he said, noting that just raising conditions plan is not sufficient, but taking practical measures (for implementing the mechanism) are also necessary.