Instrument in Support of Trade Exchanges

INSTEX SAS
Company type	Société par actions simplifiée
Industry	Clearing house
Founded	31 January 2019
Headquarters	Paris, France
Key people	Per Fischer; (managing director); Sir Simon McDonald; (chairman of the supervisory board); Miguel Berger; (member of the supervisory board); Maurice Gourdault-Montagne; (member of the supervisory board)
Owner	France; Germany; United Kingdom;
Website	instex-europe.com

The Instrument in Support of Trade Exchanges (INSTEX) is a European special-purpose vehicle (SPV) established on 31 January 2019. Its mission is to facilitate non-USD and non-SWIFT transactions with Iran to avoid breaking U.S. sanctions.

Five EU nations declared in a joint statement on 29 November 2019 that they will join the INSTEX mechanism for trade with Iran. These countries are Belgium, Denmark, Netherlands, Finland and Sweden.

European countries said in March 2023 they had decided to end INSTEX, through which only a single transaction had traded. Ali Khamenei, Leader of the Islamic Revolution, likened the European financial mechanism for trade with Iran to a “bitter joke".

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