West to ease sanctions on Iran’s insurance, transport, energy

Geneva, Nov 24, IRNA – The sanctions on insurance, transportation and energy sectors will be completely removed after Iran and the Group 5+1 reached a final agreement in Geneva.
According to the four-page agreement none of the sanctions will be increased and the oil sanctions against Iran will come to halt and the level of purchase of oil will be maintained at the current level and Iran’s oil revenues will be liberated.

Moreover, the sanctions on Iran’s petrochemical sector will also be completely removed and the sanction on Iran’s auto sector will be lifted.

Iran and the Group 5+1 also agreed that the West will lift the existing sanctions on gold and precious metals and the sanctions on insurance, transportation and also related to oil sector will also be removed.

Meantime, Iran has to take some confidence-building measures in lieu of the West’s sanctions eased against Tehran.



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