News ID: 252337
Published: 1001 GMT May 04, 2019

Iran’s UN envoy: Europe should compensate Iran for US sanctions damage

Iran’s UN envoy: Europe should compensate Iran for US sanctions damage

National Desk

Iran’s ambassador to the UN said that Iran has told the Europeans that mere political support following the US withdrawal from the nuclear deal will not suffice, stressing that Europe should compensate Iran for the economic damages.

In an interview with IRNA, Majid Takht-Ravanchi said that Iran has been suffering from the US sanctions reimposed after its pullout from the 2015 nuclear agreement.

He said that Europe has introduced a financial mechanism to facilitate trade with Iran which is called Instrument In Support of Trade Exchanges (INSTEX) and Iran has also launched a similar system, the Special Trade and Finance Institute (STFI), to match the European mechanism.

Criticizing Europe for the delay in launching the INSTEX, Takht-Ravanchi said it is important that Europe has created the mechanism but it should yield result. 

The nuclear deal – officially called the Joint Comprehensive Plan of Action (JCPOA) – was initially inked in 2015 between Tehran and six world countries, namely the US, Russia, China, France, Britain and Germany.

Last May, however, US President Donald Trump withdrew his country from the JCPOA – which had been negotiated under his predecessor – and reimposed the anti-Iran sanctions that had been lifted under the landmark deal.

Despite Washington’s withdrawal, Iran has not left the deal yet, but has stressed that the remaining signatories to the agreement need to effectively offset the negative impacts of the US pullout on Iran if they want Tehran to remain in it.











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