Iran sanctions lifted: what it means

[webfact]

Iran sanctions lifted: what it means

PARIS: -- Here is a summary of the actions which have followed the declaration from the UNs nuclear watchdog that Iran is fulfilling its obligations under a deal reached with world powers last year to curb its nuclear programme:

Sanctions

The EU has lifted all its finance, trade and travel restrictions introduced in reponse to Irans nuclear programme

The US is lifting sanctions that prevented foreign companies from doing business with Iran, although restrictions will remain on American firms. Washington has pledged to lift barriers on Iranian imports

The US has separately imposed sanctions on 11 Iranian individuals and businesses suspected of supporting the countrys ballistic missile programme

The UN has lifted most sanctions on Iran, however

Iran will be banned from selling weapons for five years.

Iran is theoretically allowed to receive components for its ballistic missile programme if approved by the UN security council, but the US has promised to veto any requests.

Technology for Irans nuclear electricty programme cannot be imported for another decade.

Prisoners

Five Americans held in Iran have been freed. They are

*Jason Rezaian, the Washington Posts Tehran bureau chief held on spying charges in 2015

*Saeed Abedini, a pastor held in 2012 for holding Christian church meetings

*Amir Hekmati, a former marine jailed in 2011 on spying charges while he claimed he was visiting his grandmother

*Nosratollah Khosravi-Roodsari, whose imprisonment had not been previously reported

*Matthew Trevithick, a student and writer

Seven Iranians held by the US accused of violating sanctions have also been released: Nader Modanlo, Bahram Mechanic, Khosrow Afghani, Arash Ghahreman, Tooraj Faridi, Nima Golestaneh and Ali Saboun.

A further 14 Iranians sought by the US are being removed from an Interpol wanted list.

Assets

The US and Iran reached a deal in the Hague allowing $400 million in cash which had be frozen since 1981 to be released back to the Iranians. The money, originally a payment to US for arms that were never delivered, had accumulated $1.3 billion in interest which will also be returned.

A US official told Reuters that another $50 billion of Iranian overseas assets would be made available for the countrys urgent economic need. It is unclear what will happen to another $50 billion still believed to be frozen.

Aircraft

Iran is planning to purchase up to 114 civil aircraft from European manufacturer Airbus to replacing its aging fleet, crippled for years by sanctions.

Such a deal could be worth over 9 billion euros.

-- (c) Copyright Euronews 2016-01-18

[trogers]

More oil to add to the glut...

[oneday]

This could be a huge mistake...time will tell.

[trogers]

This could be a huge mistake...time will tell.

The big mistake occurred almost 8 years ago...

[retarius]

Great news for the long suffering people of Iran. Finally some sanity from the West.

[reggaebkk]

I am still puzzled by the fact that we vote for politicians who sanction Iran for trying to make nuclear electricity while they should be concentrating in disarming the countries that actually used them on civilian populations...

Edited January 18, 2016 by reggaebkk

[Srikcir]

Some important clarifications on the seven Iranians held by the US accused of violating sanctions:

- negotiations had begun almost immediately after Iran's agreement to the nuclear deal

- six held dual American/Iranian citizenship

- three were still awaiting trial with one out on bail

- they were engaged in selling "dual use" microelectronics to Iran that might aid the country’s nuclear program

- none have been charged nor convicted for terrorism

[Chicog]

The money, originally a payment to US for arms that were never delivered

Well give Ronnie some credit, he asked for payment up front.