Per Fischer’s resignation from INSTEX comes as no surprise.

As we have reported previously, Fischer had pulled back from active management of INSTEX and lowered his appearance profile, since he has been suspected of illicit activity including bribery taking for his support to the Iranian regime and its terror elements.

Fischer will be replaced by Bernd Erbel, the former ambassador to Iran.

Our sources will continue to monitor closely INSTEX actions and activities in order to provide accurate and real time information regarding its support to trade with Iran despite U.S. sanctions.