ISA will not impact Iran, Europe ties: Official

SHANA- Potential execution of Iran Sanctions Act bill for extension of US D’Amato embargos against Islamic Republic will not impact the increasing cooperation between Iranian and European companies, senior official said.

He noted that Iran Sanctions Act violates the Joint Comprehensive Plan Of Action.

Presence of international companies in Iran despite US pressures shows that they do not agree with the US policies, Moazami noted.

Speaking about the cooperation documents which was inked between Iran’s National Iranian Oil Company and the international companies including the Total and Shell, he said that US breach of its obligations will not impact the European companies’ cooperation with the Islamic Republic.

JCPOA is a multilateral agreement inked between six sides of the nuclear talks under supervision of international bodies and US will lose its credibility at the international scene if it executes the Iran Sanctions Act, Moazemi said.

He voiced hope that the newly-elected US president adopts a rational approach towards Iran.

The US Senate has passed a 10-year extension of existing sanctions against Iran, sending the measure to the White House for President Barack Obama to sign into law.

Senators on last Thursday unanimously backed the renewal of the Iran Sanctions Act (ISA) by a vote of 99 to 0.

The House of Representatives voted 419 to 1 last month to reauthorize ISA, which was first introduced in 1996 to punish investments in Iran’s energy industry based on accusations that Tehran was pursuing non-civilian objectives in its nuclear energy program.

The Obama administration has expressed reservations about the utility of the legislation, but congressional aides said they expected Obama would sign it when it reached his desk. The act is set to expire at the end of 2016.

Iran and the five permanent members of the UN Security Council — the United States, Britain, Russia, China, France as well as Germany – reached a landmark nuclear agreement last year, under which Tehran agreed to limit some aspects of its nuclear program in exchange for the removal of nuclear-related sanctions.

The two sides began implementing the deal, dubbed the Joint Comprehensive Plan of Action (JCPOA), on January 16. However, members of Congress said they wanted ISA to be extended for another decade to send a strong signal that any US president would have the ability to “snap back” sanctions on Iran.