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Any plan to extend Instex to Iranian oil won't work

There is no real chance of the European-led Instex mechanism for trade with Iran to be extended to cover oil exports out of the Middle East country, despite Russia’s call for such a move, according to shipping sources with expertise in the area

‘There is little or no prospect of Instex being used as a payment mechanism for the purchase of Iranian crude oil because this would be a step too far — and a giant step too far at that — for the US,’ says Nigel Kushner of W Legal

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