CURRENT AFFAIRS

2019

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Which of the following countries have officially set up a payment channel with Iran called INSTEX?
A
Italy, Russia and the Netherlands
B
Brazil, South Africa and Egypt
C
Saudi Arabia, Denmark and Japan
D
Germany, France and the UK
Explanation: 

Detailed explanation-1: -Its mission is to facilitate non-USD and non-SWIFT transactions with Iran to avoid breaking U.S. sanctions. INSTEX SAS.

Detailed explanation-2: -New Zealand Exports to Iran was US$3.72 Million during 2021, according to the United Nations COMTRADE database on international trade. New Zealand Exports to Iran - data, historical chart and statistics - was last updated on February of 2023.

Detailed explanation-3: -China considers Iran a permanent partner for its exports and a source of its growing energy demand.

Detailed explanation-4: -Due to Western economic sanctions on Iran, Russia has become a key trading partner, especially in regard to the former’s excess oil reserves. Currently Russia and Iran share a close economic and military alliance, and both countries are subject to heavy sanctions by most Western nations.

There is 1 question to complete.