Iranian sanctions lifted

Iranian sanctions lifted

The US and EU have announced the lifting of sanctions against Iran.

The decision was made after the IAEA declared that Tehran has fulfilled its obligations under its landmark nuclear deal with six world powers in July 2015.

"I hereby confirm that the International Atomic Energy Agency has verified that Iran has fully implemented its required commitments as specified in Sections 15.1-15.11 of Annex V of the Joint Comprehensive Plan of Action (JCPOA). The US sanctions-related commitments are now in effect," RIA Novosti cited US Secretary of State John Kerry as saying.

Soon after him, a similar statement was made by the EU High Representative for Foreign Affairs and Security Policy, Federica Mogherini. "Iranian sanctions related to the JCPOA are lifted," she said.

"We would like to thank the Austrian Government that helped to implement some of the commitments under the JCPOA," Mogherini added.

"The EU and the United States have issued relevant guidelines on the details of sanctions which have been lifted, thus facilitating international engagement in Iran’s economic development," Federica Mogherini said.

The US President Barack Obama has issued an executive order revoking the sanctions. "I have determined that Iran's implementation of the nuclear related measures specified in the Joint Comprehensive Plan of Action marks a fundamental shift in circumstances with respect to Iran's nuclear program," the message says.

"In order to give effect to the United States' commitments, I am revoking Executive Orders related to sanctions," he added.

The US Treasury Department has issued a series of documents detailing the implementation of Washington's obligations under the JCPOA.

In particular, it announced that it is lifting the sanctions imposed on the Iranian Central Bank and the Iranian international oil company, as well as the ban imposed on the Iranian oil, steel, gold and coal trade with third countries.

The US Treasury said that a ban on exporting civilian passenger aircraft to Tehran has also been lifted. 

A representative of the presidential administration told about another group of the sanctions. "Over 400 individuals and entities were removed from the SDN list by the Treasury's Office of Foreign Assets Control (OFAC), but about 200 Iranian or Iran-related individuals and entities will remain on the list," he said.

In addition, Tehran will have access to frozen funds abroad. "We believe that Iran will be able to access approximately $50 billion out of a reported $100 billion in holdings it has abroad. Iran will likely need to keep much of those assets abroad to facilitate international trade," he said.

"On 16 January 2016, the Council lifted all nuclear-related economic and financial EU sanctions against Iran," the EU Council announced.