Russia Backs EU Efforts to Boost Trade with Iran Russia has signaled it will back the EU's efforts to sidestep U.S. sanctions on Iran. The payments channel, called Instex, was designed by Brussels to keep up trade with Iran and walk the country back from breaking limits on its uranium enrichment process. But just 10 EU countries are members, and the initial credit line is far below the level of trade before U.S. sanctions. FT