Economic, financial sanctions on Iran to be lifted when implementation starts

July 14, 2015 7:59 AM

"Bans to buy certain dual-use machinery and technology will end. Iran can get what it needs through a joint commission between Iran and P5+1 ...- Iran's arms embargo will be lifted.

Pulse News Agency International By Reuters

Billions of dollars of Iran's assets will be unfrozen under a nuclear deal between Iran and six major powers, Iranian state news agency IRNA reported on Tuesday

"Economic and financial sanctions imposed by the EU, U.S. will be lifted when implementation of the deal begins ... Bans or restrictions on economic cooperations with Iran will be lifted in all the fields including investment on oil and gas. Billions of dollars of Iran's frozen assets will be released

... bans on Iran's aviation will be lifted after three decades, bans on Iran's central bank, the National Iranian Oil Company (NIOC), Iran Shipping Lines (IRISL), Iran Air and many other institutions and people will be lifted," IRNA said in what it said was a summary of the deal, without citing a source.

"Bans to buy certain dual-use machinery and technology will end. Iran can get what it needs through a joint commission between Iran and P5+1 ...- Iran's arms embargo will be lifted. Some new restrictions will be replaced. Iran can import and export arms case by case. These restrictions are only for five years."