Paris, London and Berlin on Saturday welcomed six new European countries to the Instex barter mechanism, which is designed to circumvent US sanctions<\/strong><\/span><\/a> against trade with Iran by avoiding use of the dollar.<\/span><\/p>\n \u201cAs founding shareholders of the Instrument in Support of Trade Exchanges (Instex), France, Germany and the United Kingdom warmly welcome the decision taken by the governments of Belgium, Denmark, Finland, the Netherlands, Norway and Sweden, to join Instex as shareholders,\u201d the three said in a joint statement.<\/span><\/p>\n The Paris-based Instex functions as a clearing house that allows Iran<\/a> to continue to sell oil and import other products or services in exchange.<\/span><\/p>\n The system has not yet enabled any transactions.<\/span><\/p>\n Washington in 2018 unilaterally withdrew from the international agreement<\/strong><\/span><\/a> governing Iran\u2019s nuclear programme and reinstated heavy sanctions against Tehran.<\/span><\/p>\n The addition of the six new members \u201cfurther strengthens Instex and demonstrates European efforts to facilitate legitimate trade between Europe and Iran,\u201d the joint statement said.<\/span><\/p>\n It represents \u201ca clear expression of our continuing commitment to the Joint Comprehensive Plan of Action\u201d \u2013 the 2015 Iranian nuclear deal \u2013 the trio added.<\/span><\/p>\n They insisted Iran must return to full compliance with its commitments under the deal \u201cwithout delay\u201d.<\/span><\/p>\n \u201cWe remain fully committed to pursuing our efforts towards a diplomatic resolution within the framework of the JCPoA.\u201d<\/span><\/p>\n The 2015 deal set out the terms under which Iran would restrict its nuclear programme to civilian use in exchange for the lifting of Western sanctions.<\/span><\/p>\n Since the US pullout, Iran has taken four steps back<\/strong><\/span><\/a> from the accord.<\/span><\/p>\n