P5+1 Meeting on Lifting of Sanctions

P5+1 Meeting on Lifting of SanctionsP5+1 Meeting on Lifting of Sanctions

Ministers from Iran and the six powers and European Union foreign policy chief Federica Mogherini were to hold a meeting on Monday in New York to discuss the mechanism for lifting sanctions after the July 14 nuclear deal takes effect, Fars News Agency reported.

The accord, officially known as the Joint Comprehensive Plan of Action, emerging from about 22 months of negotiations with the P5+1 (the five permanent members of the United Nations Security Council plus Germany) will grant Iran sanctions relief in return for temporary limits on its nuclear program.

"In the meeting, we will discuss how to implement the JCPOA, including the details of sanctions lifting procedures, and ways to boost investor confidence about the prospect of post-sanctions climate for business in Iran," Foreign Minister Mohammad Javad Zarif told state TV on Sunday.

Removal of sanctions, expected within a few months, will open up the untapped Iranian market to foreign businesses, which are jockeying for a larger share of this unique investment opportunity.

Zarif has been in New York since last week for the 70th Session of the United Nations General Assembly.

Referring to the Saturday meeting with his US counterpart John Kerry on the sidelines of the summit, he said, "The American side reiterated its commitment to implementing the JCPOA and it has given the required assurances in this regard."

The top diplomat stressed that in line with instructions by the Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei, his talks with Kerry did not cover issues beyond the nuclear pact.


 Majlis Review

"Conditions will be ripe by the next week, after the Majlis consideration of the JCPOA is over, for putting the deal into force," he was quoted by IRNA as saying.

In compliance with a June parliamentary bill, the accord is being reviewed by the Majlis to ultimately come up with a verdict about whether to allow it to take effect.

He said European officials have become more realistic in their approach to regional developments and the world has come to recognize Iran's key role in the region.

"Today, [Europeans] have revised their wrong policies to some extent and we are witnessing a greater sense of realism in remarks by [their] officials on the region and Syria."

"I feel that the international community has been aware of Iran's effective role in the region but for certain political considerations, they have been ignoring this reality. Today they have come to the conclusion that without Iran's involvement it would be impossible to restore stability to the region," Zarif added.