INSTEX is the Instrument in Support of Trade Exchanges and it permits companies in Europe to do business with countries like Iran, avoiding American sanctions by trading outside the SWIFT system, which is dollar denominated and de facto controlled by the US Treasury.
Not pleased at all
This will not please Sigal P. Mandelker, who is an American (Israeli dual citizen born in Israel) lawyer and government official who currently serves as Under Secretary of the Treasury for Terrorism and Financial Intelligence. Mandelker also served as the Acting United States Deputy Secretary of the Treasury from 2017-2018.
The “bankers” will not be best pleased, Trump and his backers are not pleased. One headline prefaces with “Trump to unleash Hell on Europe” (which is of course exaggerated). Iran now has a means to circumvent sanctions. Is this a case of Mahershalalhashbaz (LOL)…… SWIFT is booty, speedy is prey (Isa 8.3). The EU is still trying to broker peace. What is wrong with them? Did they not get the war memo? Perhaps they don’t want another 2 million Middle East refugees. Spoilsports. It all helps diversity.
Fill your Gas tank
Seems like Saudi Arabia will not be able to continue supply when war starts.
Even with their alternative pipeline there will not be enough to go around.