Instrument In Support Of Trade Exchanges
Consider the following given statements about the Instrument in Support of Trade Exchanges (INSTEX):
- INSTEX was established by France, Germany and the United Kingdom in January 2019, to allow European entities to maintain trade with Iran.
- The Paris-based INSTEX functions as a clearing house allowing Iran to continue to sell oil and import other products or services in exchange.
Choose the correct answer from the codes given below:
Both 1 and 2
Neither 1 nor 2