Deputy oil minister: Economic, banking sanctions against Iran will be removed by late November

TEHRAN (FNA)- Iranian Deputy Oil Minister for International and Commercial Affairs Amirhossein Zamaninia announced on Monday that the economic and banking sanctions against the country will be removed by late November.

“We should wait for the complete removal of the economic and banking sanctions against Iran by (the Iranian month of) Azar (which starts on November 22),” Zamaninia said in Tehran on Monday.

He referred to the Iran-Powers nuclear understanding reached in Lausanne on April 2, and said during the Lausanne talks, the solution to the main problems were found, and it was decided that enrichment will be carried out inside Iran and the world powers which insisted that Iran shouldn’t work on the next generation of centrifuges accepted that Iran will do Research and Development (R&D) on the 8th generation of its home-made centrifuges.

The deputy minister said “20 pages of the draft final agreement have been written during the negotiations held between Tehran and the Group 5+1 (the US, Russia, China, Britain and France plus Germany) so far, while the two sides hold different views over 30% of the final draft text now”.

He said the final deal will be accompanied by “4 annexations”.

Considering every aspect, one comes to the conclusion that reaching a final agreement by July 1 will definitely take place, he said, and added that there will be tables and timelines for the required actions that need to be taken by Iran and the G5+1 in a final deal.

In relevant remarks in April, Head of the Atomic Energy Organization of Iran (AEOI) Ali Akbar Salehi underlined that all embargos imposed against Iran’s different economic sectors, including oil, banking and insurance industries, would be removed right after Iran and the Group 5+1 (the US, Russia, China, France and Britain plus Germany) strike a final agreement.

“All insurance, oil, financial and banking sanctions will be removed as soon as a comprehensive agreement will take effect,” Salehi said during a Q & A meeting with students at Sharif University of Technology in Tehran.

He noted that if Tehran and the world powers stroke a final deal all the resolutions of the UN Security Council which include six resolutions would also be revoked in the form of a single UNSC resolution.

Also last month, Iranian Deputy Foreign Minister and senior negotiator Seyed Abbas Araqchi underlined that all sanctions against the country would be terminated on the very same day that the final nuclear agreement between Tehran and the world powers would be put into effect.

He stressed that Iran’s position is crystal clear, adding, “All economic and financial sanctions should be annulled on the same day that the agreement is put into action, and an agreement has been made on this very same basis and we are now trying to write it down.”

He described writing the final deal as complicated and extensive, given the different dimensions of the sanctions. “We can say in one sentence that all economic sanctions should be removed, but given the different types of the sanctions which exist and their highly different aspects, it is a difficult job.”

Explaining that certain sanctions are related to the UN Security Council and some others have been imposed by the US and Europe, Araqchi expressed the hope that drafting the final nuclear agreement would come to an end before the July 1.

By Fars News Agency