On the 40th anniversary of the Islamic Revolution, Iran faces political and economic hardship. Despite US sanctions and tensions with the Iranian leadership, the EU is committed to trade with Iran. That is proving to be a lifeline for Iranian firms.
Iranian President Hassan Rouhani has unveiled a new cruise missile capable semi-heavy submarine. The launch comes as tensions simmer with Washington and the EU over Iran's ballistic missile program.
The special purpose vehicle INSTEX aims to facilitate trade between the EU and Iran to get around US sanctions. DW examines how it will work, the players and its possible impact.
Just two days after the EU set up a transactions channel with Iran to ease the Islamic country's financial woes, Tehran tested a cruise missile that experts say could force Brussels to review its Iran support.
Germany, France and the UK have set up a payment channel with Iran called INSTEX, to help continue trade and circumvent US sanctions. Washington has cautioned EU nations against such actions.
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