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EU extends Iran’s sanctions relief

TEHRAN (FNA)- The European Council extended until 30 June 2015 the suspension of EU restrictive measures specified in the Joint Plan of Action agreed by the Group 5+1 (Russia, China, France, Britain and the US plus Germany, also known as the E3/EU+3) and Iran on 24 November 2013.

“This follows the decision by the E3/EU+3 and Iran to prolong the validity of the measures of the Joint Plan of Action until that date,” the Council of the European Union said in a press release.

The seven nations signed an interim deal on November 24, 2013 that came into effect on January 20.

The first deadline was on July 20 which was then extended until November 24 after they failed to reach an agreement on a number of key issues.

Ever since endorsing the interim deal last November, Iran and the G5+1 have had 10 rounds of negotiations. The 10th and the last round of the talks ended in Vienna Monday night.

“While the remainder of the EU restrictive measures against Iran remain in place, the suspension allows: the provision of insurance and transport in relation to Iranian crude oil sales to current customers, the import, purchase or transport of Iranian petrochemical products, as well as trade in gold and precious metals with the Iranian government and its public bodies. The increase in thresholds for authorising financial transfers to and from Iran also remains in force,” the press release added.

The legal acts will be published in the EU Official Journal later on today.

Iranian Foreign Minister Mohammad Javad Zarif and EU coordinator Catherine Ashton announced last night that the talks had been extended until July 10, and the world powers had taken up to release $700 million of Iran’s frozen assets on a monthly basis.

By Fars News Agency


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