Today, the financial mechanism entitled Instex adopted by the EU with Iran becomes into
effect with the start of the new Iranian financial year and the adoption of new Iranian
mechanism. These two mechanisms apparently seem a deduction of a limited part of the
trade circulations but without notifying the traditional banking system which is under the
American control. This formula is a kind of barter in which the countries pay the sale
price to their citizens and their companies and get from them in return the price of
purchase with the local currency, then the countries among themselves made a ledger
accounting of bartering annually.
 Before starting the mechanism and due to the need to build huge bureaucratic formations
to ensure the success of the two mechanisms, training the staff, and putting special
accounting programs for implementation, the Iranians found that this mechanism and its
functional formations can be invested in the trade relationships with number of
companies in China, Russia, and India which fear the sanctions, then they wondered why
not to develop a similar mechanism with Turkey, Iraq, and Syria. They are trying to
enlarge the gap in the global financial system and trying to make half of their trade
exchanges belong to this mechanism within two years.
 After scrutiny in the results, this mechanism may form a starting point towards a new
global financial system that does not need exchange through banking procedures
controlled by the US currency and the US banking control.
 The sanctions system paves the way for its contradictory, therefore the gap will grow.
Translatedby Lina Shehadeh,

2019-03-26 | عدد القراءات 1735