Iran sanctions lifted after nuclear deal compliance

A worker rides a bicycle in front of the reactor building of the Bushehr nuclear power plant, just outside the southern city of Bushehr, Iran. AP FILE

BRUSSELS, Belgium — The European Union on Saturday lifted its economic sanctions against Iran after the UN atomic watchdog announced that Tehran had complied with the terms of last July’s landmark deal aimed at scaling down its nuclear program.

The lifting of the sanctions came into effect late Saturday after the decision was published in the bloc’s Official Journal, less than an hour after the move was formally adopted by all 28 member states.

European Union foreign policy chief Federica Mogherini made the official announcement in Vienna.

“As Iran has fulfilled its commitments, today, multilateral and national economic and financial sanctions related to Iran’s nuclear program are lifted in accordance” with the July deal, Mogherini said in Vienna.

“This achievement clearly demonstrates that with political will, perseverance, and through multilateral diplomacy, we can solve the most difficult issues and find practical solutions that are effectively implemented,” Mogherini said in a joint statement with Iranian Foreign Minister Mohammad Javad Zarif.

A total of 92 Iranians and 466 companies or groups, including the Iranian central bank, were affected by the EU sanctions.

The United States also announced that it had cancelled a raft of sanctions imposed on Tehran.

READ: UN believes Iran worked on developing nuclear weapons

Some sanctions, not linked to the accord, will remain in place however, including European sanctions linked to human rights and US sanctions linked to terrorism.

Embargoes on the sales and exports of conventional weapons and ballistic missile technology will also remain in place — for five years for conventional weapons and for eight years for ballistic missile technology.