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Removing Obstacles to Full Benefits of Nuclear Deal

Removing Obstacles to Full Benefits of Nuclear Deal  Removing Obstacles to Full Benefits of Nuclear Deal

Iran is determined in pursuing the objectives of the nuclear deal with world powers by clearing the banking and business obstacles hindering its path to full benefits of the pact, a nuclear negotiator said.

“Iran will not cease [its diplomatic push] until all barriers to the banking and financial sectors are removed and the goals of the Joint Comprehensive Plan of Action are fully met,” Hamid Baeidinejad said on social media on Friday, using the official name of the accord.

International measures against Iran were lifted in January as part of the agreement with the six world powers (the five permanent members of the UN Security Council plus Germany), under which Tehran curbed its nuclear program.

But the residual US restrictions imposed vis-à-vis alleged terrorism charges, human rights violations and missile activities have left international banks and companies anxious in reengaging with Iran simply because many incurred hefty US fines for sanctions breaches in recent years.

The restrictions include a ban on Iran-linked transactions in dollars being processed through the US financial system and sanctions on individuals and entities claimed to be involved in “state-sponsored terrorism”.

Tehran has often said that Washington simply does not hold the high moral ground to condemn others on terror charges. It is of the strong official opinion that given the US’ military track record in tens of countries, its rulers cannot and should not act as the global policeman telling others how to mind their business.

The key problem for potential foreign investors and top-tier banks is that dealing with a sanctioned Iranian party, even by mistake, could result in heavy US penalties. This can effectively cut them off from the US financial markets and the international banking system, a powerful disincentive for any international business.

  Domestic Barrier  

Barriers to normal international trading also include resistance from domestic conservative opponents to the deal who fear that an opening to the world would undermine the anti-western sentiments of some groups inside the country, which form the ideological core of the establishment.

Baeidinejad, who is also the director general for political and international security affairs, criticized the domestic opponents of the nuclear deal who, he said, are desperately attempting to undermine the achievements of the landmark accord.  “Iran has enough tools to pressure the other side, and US restrictive measures do not justify ignoring the JCPOA’s crucial achievements, including retaining the right to uranium enrichment, “ he said.  Neither do they justify “denigrating post-JCPOA economic and trade efforts leading to an important opening for our country and the lifting of dozens of sanctions in various areas, including transport, shipping, oil and petrochemical exports and auto parts manufacture,” the diplomat said.

“Certainly, no one will buy claims that deny the JCPOA gains.”

Financialtribune.com