DUSHANBE, January 18, 2016, Asia-Plus — The International Atomic Energy Agency (IAEA) declares that Tehran has fulfilled its obligations, triggering dismantling of network of punitive measures and normalization of Iran’s relations with West.
Senior diplomats in Vienna formally announced the lifting of sanctions against the country following confirmations from the UN that Tehran had fulfilled its obligations under last year’s nuclear accord.
A final report by IAEA released late on Saturday triggered the much anticipated announcement of “Implementation Day”, which puts Iran on the brink of an extraordinary transformation, reconnecting it to the global economy, according to
The Guardian
.
“Today we have achieved Implementation Day of the joint comprehensive plan of action,” Iran’s foreign minister, Mohammad Javad Zarif, and the EU foreign policy chief, Federica Mogherini, were quoted as saying in a joint statement read at the UN in Vienna in front of the world media.
According to
Reuters
, Secretary of State John Kerry announced on January 17 that the United States and Iran had also settled a longstanding dispute over $400 million dating back to before the 1979 Islamic Revolution and the end of diplomatic ties.
The U.S. will repay Iran a $400 million debt and $1.3 billion in interest.
The money was part of a trust fund that was once used by Iran to buy military equipment from the United States and is separate from the tens of billions of dollars in frozen foreign accounts that Iran can now access.
The Guardian
reports the move came after a remarkable day that saw the release of four dual nationals and a teenage student in a prisoner swap with the US. They included the
Washington Post
journalist Jason Rezaian, who had been held on charges of spying for over a year.
The Iranian-Americans were released in exchange for seven Iranian nationals held in US prisons, apparently for violating sanctions. The timing of the prisoner swap suggests that the issue had been discussed on the sidelines of the nuclear talks, despite denial from both sides.
The European Union said it has “lifted all economic and financial sanctions against Iran related to the nuclear program.”
Washington formally lifted banking, steel, shipping, and other sanctions on Iran.
With international sanctions lifted, more than $30 billion in assets overseas will become immediately available to Iran.
Official Iranian reports put the total amount of frozen Iranian assets overseas at nearly $100 billion.
According to the International Energy Agency, some 38 million barrels of oil are already in Iran”s floating reserves, ready to enter the market.
Meanwhile,
BBC
reports the United States has imposed fresh sanctions on Iranian companies and individuals over a recent ballistic missile test.
The move comes a day after Washington and the EU lifted sanctions related to Tehran”s nuclear program.
The new sanctions prevent 11 entities and individuals linked to the missile program from using the US banking system.
