Topic: Instex

The Netherlands and several other European nations have joined INSTEX, a payment system designed to facilitate trade with Iran while bypassing U.S. sanctions and the SWIFT network. The move is seen as a bold subversion of American foreign policy.

Following a meeting with Xi Jinping, President Trump signaled a loosening of restrictions on US companies selling to Huawei. Meanwhile, European nations have operationalized INSTEX, a payment system designed to bypass US sanctions on Iran, which the hosts see as a threat to the petrodollar.