EU poised to suspend some sanctions on Iran from January 20

The issue is to be discussed during the meeting of Foreign Ministers of EU Member States. Once the IAEA report is received, a “new regulation will be approved” to suspend some of the sanctions hobbling Teheran’s economy

Sometime around midday Monday, during the Foreign Affairs Committee, a report from the International Atomic Energy Agency (IAEA) is expected to arrive and to confirm whether Iran is respecting its engagement to rein in its nuclear program. Immediately after receiving this confirmation, the EU is ready to deliver on their end of the deal, with a suspension of some of the sanctions on Iran. “The EU will approve the necessary changes in the legislation,” European sources say, “and the new regulations should immediately take effect.”

The issue is to be discussed during the meeting of the Foreign Affairs Committee, and the Foreign Ministers of the 28 member states are ready to deliver a temporary lifting of the embargo on oil sales. In addition, the suspension will allow companies to resume the buying and importing of Iranian petrochemical products, as well as it will lift a ban on transactions in gold. This is going to be a six-month suspension, that is, as far as July 20, 2014.

The temporary deal on the Iran nuclear program engages Iran to interrupt the production of uranium enriched up to 5% and to neutralize its reserves of uranium enriched up to 20%. On the other hand, the super powers are engaged not to impose further sanctions of Teheran.

L. P.