Germany trade group chief backs non-dollar EU trade with Iran

A new channel for non-dollar trade with Iran that France, Germany and Britain have opened to avert U.S. sanctions is legitimate and sends an important signal of Europe's reliability as a trade partner, Germany's BGA trade association said.

BGA President Holger Bingmann said on Friday that questions nonetheless remained about the exact structure of the Instrument In Support Of Trade Exchanges, or INSTEX.

(With inputs from agencies.)