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Talks on Sanctions Removal Next Week

Talks on Sanctions Removal Next WeekTalks on Sanctions Removal Next Week

Talks with the US and Europe will begin next week to determine procedures for the removal of sanctions due when Iran takes agreed measures to comply with the July 14 nuclear pact, the head of the Foreign Ministry's Office for Implementation of the Nuclear Deal said.

The United States and European powers—Britain, France and Germany—along with Russia and China, were parties to the deal with Iran, which in return for sanctions relief agreed to place temporary constraints on its nuclear program.

"As of November 12, Iran, Europe and the US will launch official consultations to work out procedures for the lifting of sanctions," Abbas Araqchi was quoted by Fars News Agency as telling state TV on Tuesday.

October 18 marked Adoption Day, when the two sides officially adopted certain measures, after whose completion sanctions will be removed on Implementation Day.

Among Iran's commitments are redesign of the Arak heavy reactor and reduction of its low-enriched uranium stockpile.

The milestone day also saw Iran, the US and China release a statement on their cooperation to modernize the Arak reactor as part of arrangements detailed in the deal, or officially, the Joint Comprehensive Plan of Action.

Araqchi said various documents need to be prepared on the Arak facility, adding that an agreement has been signed by Iran, China and the US.

"Another official document is scheduled to be signed within a week by Iran, P5+1 [the five permanent members of the UN Security Council plus Germany] and the European Union. Afterward, executive contracts will be drawn up and signed."

  Uranium Swap

As stipulated in JCPOA, Iran is to either convert to raw uranium or export its refined uranium stocks in excess of 300 kg and fissile purity of 3.67%.

"[Iran] will keep its uranium stockpile under 300 kg of up to 3.67% enriched uranium hexafluoride [UF6] or the equivalent in other chemical forms. The excess quantities are to be sold based on international prices and delivered to the international buyer in return for natural uranium, or are to be down-blended to natural uranium level," the action plan states.

The senior nuclear negotiator said negotiations are underway with some countries to strike uranium swap deals.

Araqchi said the government will comply with the decision of the Leader of Islamic Revolution Ayatollah Seyyed Ali Khamenei who has ordered a delay in action to implement commitments concerning the Arak reactor and the uranium stocks, pending announcement by the UN nuclear agency of closing its probe into Iran's nuclear past.

 

Financialtribune.com