EU will likely lift some Iran sanctions in Dec: France

Published November 25, 2013
French Foreign Minister Laurent Fabius speaks to journalists next to Iranian Foreign Minister Mohammad-Javad Zarif and the Iranian delegation after the ceremony at the United Nations in Geneva, Switzerland,  Sunday, Nov.24, 2013.  —AP Photo
French Foreign Minister Laurent Fabius speaks to journalists next to Iranian Foreign Minister Mohammad-Javad Zarif and the Iranian delegation after the ceremony at the United Nations in Geneva, Switzerland, Sunday, Nov.24, 2013. —AP Photo

PARIS: France’s foreign minister said Monday the European Union would likely lift some sanctions on Iran in December, as part of a hard-won deal that curbs Tehran’s nuclear programme.

Laurent Fabius also said Israel – which blasted Sunday’s agreement as a “historic mistake” – was not likely to launch any preventative strikes on arch-foe Iran, “because no one would understand” such a move “at this stage.”

World powers sealed the agreement with Iran after four days of intense negotiations in Geneva, promising to ease some crippling US and EU sanctions on the Islamic state in return for limits on an enrichment programme the West suspects was aimed at developing an atomic bomb.

Speaking on Europe 1 radio, Fabius said that EU foreign ministers would gather together in “a few weeks” to put forward a proposal to partially lift some sanctions, which the 28-member body will have to approve.

“This lifting of sanctions is limited, targeted and reversible,” he said, adding that it would take place “in December”.

The deal, which lasts for six months only while a more long-lasting solution is negotiated, also gives UN atomic inspectors more access to key nuclear facilities in Iran.

Tehran has agreed that it will not enrich uranium over five per cent for the six-month period and will neutralise its entire stockpile of uranium enriched to 20 per cent, which is close to weapons-grade and therefore an area of top concern.

In return, the EU and United States will suspend sanctions on Iran’s petrochemical exports and gold and precious metals sector.

US trade restrictions on the country’s auto industry will also be suspended.

Altogether, Iran will receive some $7 billion (5.2 billion euros) in sanctions relief, Washington has said, and the powers have promised to impose no new embargo measures for six months if Tehran sticks to the accord.

But the raft of international sanctions that have hobbled the Iranian economy remain untouched.

Fabius said that Iran “commits to giving up the prospect of a nuclear weapon” as part of the interim deal.

“As much as Iran can move forward where civilian nuclear energy is concerned, it cannot do so for the atomic weapon,” he added.

The six powers involved in the negotiations – the United States, France, Britain, Russia, China and Germany – have hailed the deal as a key first step that wards off the threat of military escalation.

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

Digital growth
Updated 25 Apr, 2024

Digital growth

Democratising digital development will catalyse a rapid, if not immediate, improvement in human development indicators for the underserved segments of the Pakistani citizenry.
Nikah rights
25 Apr, 2024

Nikah rights

THE Supreme Court recently delivered a judgement championing the rights of women within a marriage. The ruling...
Campus crackdowns
25 Apr, 2024

Campus crackdowns

WHILE most Western governments have either been gladly facilitating Israel’s genocidal war in Gaza, or meekly...
Ties with Tehran
Updated 24 Apr, 2024

Ties with Tehran

Tomorrow, if ties between Washington and Beijing nosedive, and the US asks Pakistan to reconsider CPEC, will we comply?
Working together
24 Apr, 2024

Working together

PAKISTAN’S democracy seems adrift, and no one understands this better than our politicians. The system has gone...
Farmers’ anxiety
24 Apr, 2024

Farmers’ anxiety

WHEAT prices in Punjab have plummeted far below the minimum support price owing to a bumper harvest, reckless...