
By Pooya Stone
The latest monthly report by the European Commission indicates a significant decline in bilateral trade between the EU’s 28 Member States and Iran in the first four months of the current year.
The report comes while on May 8, 2019, Tehran gave a 60-day window to the signatories of the Iran nuclear deal, formally known as the Joint Comprehensive Plan of Actions (JCPOA), to provision the economic interests of Iran according to the deal. Specifically, Iran had demanded the EU establish the financial and trade instrument with Iran, known as INSTEX.