EU adopts legislative framework for lifting sanctions against Iran

The European Union (EU) here on Sunday adopted the legislative framework for lifting all of its nuclear-related economic and financial sanctions against Iran.

The announcement was made in a joint statement by EU foreign policy chief Federica Mogherini and Iranian Foreign Minister Mohammad-Javad Zarif.

Noting that Oct. 18 is Adoption Day of the Joint Comprehensive Plan of Action (JCPOA) related to the Iranian nuclear program, the statement said that the lifting of sanctions will take effect on Implementation Day, simultaneously with the International Atomic Energy Agency (IAEA)-verified implementation of agreed nuclear measures by Iran.

On July 14, Iran reached the JCPOA with P5+1, namely the United States, Britain, France, Russia and China plus Germany, over its controversial nuclear program after more than 18 months of marathon talks.

The so-called "Adoption Day", 90 days for the United Nations Security Council endorsed the Iranian deal. It means Iran and the P5+1 will start implementing the obligations under the Iranian nuclear deal.

"We have respected the timetable set out in the JCPOA, which demonstrates our collective will to stick to its provisions," said the statement.

"Iran will now start the implementation of its nuclear-related commitments with the objective of full and effective completion. The IAEA will make the necessary preparations for the monitoring and verification of these steps," it said.

The Joint Commission foreseen under the JCPOA will now convene for its first meeting at the level of Political Directors on Oct. 19 in Vienna, in order to further advance preparations for implementing the Joint Comprehensive Plan of Action, according to the statement.

U.S. President Barack Obama earlier on Sunday ordered his administration to take steps to lift sanctions on Iran by implementing the Iranian nuclear deal reached in July.

Head of Atomic Energy Organization of Iran (AEOI) Ali-Akbar Salehi said on Sunday that the exact time for implementing the measures by Iran relating to JCPOA has not been decided so far, and it will be determined by president Hassan Rouhani.

According to the nuclear agreement between Iran and the world major countries reached on July 14 in the Austrian capital of Vienna, Iran would improve the transparency of its nuclear plan, downsize its capacity for uranium enrichment and do changes in the structure of its heavy water reactor in exchange for international and Western sanctions relief.

Since 2006, the UN Security Council has adopted a number of resolutions requiring Iran to stop enriching uranium with nuclear proliferation purposes. These resolutions have been progressively accompanied by restrictive measures to persuade Iran to comply.

In addition to implementing UN sanctions, during the past decade the EU imposed a wide range of autonomous economic and financial sanctions on Iran, including prohibition to export to Iran arms, dual-use goods and goods which could be used in enrichment-related activities, prohibition to import crude oil, natural gas, petrochemical and petroleum products, freezing the assets of the Central Bank of Iran and major Iranian commercial banks, preventing access to EU airports of Iranian cargo flights, and travel restrictions and asset freeze imposed against other listed persons and entities.

Since January 2014, some of the EU sanctions against Iran have been suspended. This was done as part of the implementation of the interim agreement known as the Joint Plan of Action in November 2013.

After the agreement on the JCPOA, the EU's suspension on relevant sanctions was further extended until Jan. 14, to allow for the necessary time to make arrangements and preparations for the implementation of the JCPOA.