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

Kurram ceasefire
Updated 26 Nov, 2024

Kurram ceasefire

DESPITE efforts by the KP government to bring about a ceasefire in Kurram tribal district, the bloodletting has...
Hollow victory
26 Nov, 2024

Hollow victory

THE conclusion of COP29 in Baku has left developing nations — struggling with the mounting costs of climate...
Infrastructure schemes
26 Nov, 2024

Infrastructure schemes

THE government’s decision to finance priority PSDP schemes on a three-year rolling basis is a significant step...
Anti-women state
Updated 25 Nov, 2024

Anti-women state

GLOBALLY, women are tormented by the worst tools of exploitation: rape, sexual abuse, GBV, IPV, and more are among...
IT sector concerns
25 Nov, 2024

IT sector concerns

PRIME Minister Shehbaz Sharif’s ambitious plan to increase Pakistan’s IT exports from $3.2bn to $25bn in the ...
Israel’s war crimes
25 Nov, 2024

Israel’s war crimes

WHILE some powerful states are shielding Israel from censure, the court of global opinion is quite clear: there is...