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Technology Transfer After Sanctions' Removal

Technology Transfer After Sanctions' Removal Technology Transfer After Sanctions' Removal

The removal of sanctions will help facilitate the transfer of modern technologies and science into the country, Managing Director of National Iranian Oil Company Rokneddin Javadi said on Wednesday. Speaking to IRNA, Javadi warned about the likely increase in imports and said during the sanctions, Iran was deprived of modern technologies. The official stressed, however, that Iranian youths used this opportunity to increase their experiences and enhance domestic technology and science during the sanctions period. On July 14, Iran and the P5+1 countries finalized the text of an agreement, dubbed the Joint Comprehensive Plan of Action, in the Austrian city of Vienna. Under the JCPOA, limits will be placed on Iran’s nuclear activities in exchange for, among other things, the removal of all economic bans against the Islamic Republic. The UN Security Council on July 20 unanimously adopted a draft resolution turning the JCPOA into international law. All 15 members of the UN body voted for the draft UN resolution in New York, setting the stage for the lifting of UNSC sanctions against Iran.

 

Financialtribune.com