INSTEX has a new boss
The former German ambassador Michael Bock is to head the institute.
According to SPIEGEL, the Institute for Payment Processing with Iran (INSTEX) will be headed by former German Ambassador Michael Bock. The Federal Foreign Office was able to assert its candidate in talks with other European partners over the past few days. As Der Spiegel writes, Michael Bock, an experienced German diplomat, is now heading INSTEX. The 66-year-old ambassador was in his last post in Bogota, before that the diplomat was stationed in Sweden and during the overthrow phase in Cairo. Bock is regarded as an expert on the Middle East, and he joined the Foreign Office in 1983.
Despite all efforts, INSTEX has not yet completed any business transactions. Berlin and Paris had always emphasized that they wanted to do business primarily to alleviate the aggravating supply situation in the humanitarian sector in Iran.