Kerry to meet with Iranian foreign minister on nuclear deal

“We are days away from implementation if all goes well”, Kerry said.

US President Barack Obama has lifted a decades-old ban on the export of civilian passenger aircraft to Iran as Tehran prepares to see sanctions relief.

Following a 12-year standoff and two years of discussions, Iran and the six western nations: Britain, France, Germany, China, Russia, and the United States reached a joint comprehensive plan of action (JCPOA) deal in July 2015 over Iran’s nuclear program to ensure it would be exclusively peaceful.

The United States and Iran are within days, possibly even hours, of completing the next critical phase of the landmark worldwide nuclear deal, State Department officials say, a step known as “Implementation Day”.

According to the UNSC Resolution 2231, all previous UNSC sanctions imposed on Iran over its nuclear program will be terminated when the JCPOA takes effect.

“The core vessel of the Arak reactor has been removed… and IAEA inspectors will visit the site to verify it and report it to the IAEA…”

It would not only mean Iranian crude in the market but it would also free up Iranian cash trapped into overseas account, which is as much as $50 billion.

Zaiwalla also noted that Iran is subject to a “snapback” re-imposition of the terminated sanctions in the event of significant non-performance of its JCPOA commitments.

Meanwhile, the Obama administration remained silent in the wake of several breaches by Iran of United Nations sanctions and the nuclear framework.

Given that background, the Iranians’ decision to take the USA sailors prisoner raises serious questions about motives. They’ve focused on nuclear matters, Iran’s worsening rivalry with Saudi Arabia and peace efforts in Syria.

What is the nuclear deal? Iran reportedly says the IAEA will do so this Friday.

Among other things, non-U.S. actors will largely be able to carry out transactions involving the Iranian rial; provide USA banknotes to the Iranian government; release Iranian oil-sale revenues held overseas; issue Iranian sovereign debt; provide insurance underwriting; trade precious metals; sell goods and services to Iran’s auto sector; and undertake many financial and banking dealings. “The core was initially supposed to be cut into parts but we did not accept it as we want to keep it as the symbol of Iran’s nuclear industry”, Kamalvandi told state TV.

Iranian hard-liners are accusing moderate President Hassan Rouhani of “burying” the country’s nuclear program as Tehran and world powers are on the verge of implementing a historic nuclear accord.

The European Council further said that the suspension would allow for “continuous preparations” for the implementation of the July deal and lifting of the sanctions.

Tehran expects to quickly recoup some $100bn worth of its assets that have been frozen in overseas banks, a tremendous windfall for an economy with a GDP of little more than $400bn in 2014.