Iran's Nuclear Sanctions Lifted

After the Director General of the International Atomic Energy Agency (IAEA) announced on Saturday evening, January 26, that Iran has taken all steps to begin implementing the Joint Comprehensive Plan of Action (JCPOA), Iranian Foreign Minister Mohammad Javad Zarif and EU Foreign Policy Chief Federica Mogherini announced that all national and multilateral financial and economic sanctions related to Iran's nuclear program in accordance with the JCPOA have been lifted. Initially, Yukiya Amano, the IAEA Director General, stated at the agency's headquarters that Iran has taken all steps to begin implementing the JCPOA. Mr. Amano emphasized that agency inspectors confirm that Iran has fulfilled all commitments under the nuclear agreement or the JCPOA. According to him, the agency's report on Iran's compliance with its commitments under the JCPOA has been sent to the agency's Board of Governors and also to the United Nations Security Council. Following the IAEA Director General's report, Zarif and Mogherini read a joint statement from Iran and the P5+1 at a press conference. The statement reads: 'Since Iran has fulfilled its commitments, today the national and multilateral financial and economic sanctions related to Iran's nuclear program in accordance with the JCPOA have been lifted. The European Union, the P5+1 countries, consisting of the People's Republic of China, the French Republic, the Federal Republic of Germany, the Russian Federation, the United Kingdom, and the United States of America, and Iran will also cooperate in the peaceful uses of nuclear energy within the framework of the JCPOA.' The joint statement also specifies: 'The European Union has confirmed that the necessary legal frameworks for lifting the EU financial and economic sanctions regarding Iran's nuclear program have been implemented. The United States will cease the implementation of the approved sanctions related to Iran's nuclear program today, which also includes the cancellation of relevant executive orders and the issuance of licenses for certain activities as specified in the JCPOA. The European Union and the United States will issue relevant regulations regarding the details of the sanctions that are being lifted, thereby facilitating international participation in Iran's economic advancement.' The foreign ministers of the United States, France, and Russia welcomed the IAEA's statement and the commencement of the frameworks provided for the lifting of Iran's nuclear sanctions. U.S. Secretary of State John Kerry also welcomed the agency's report, stating that the U.S. and the world will feel more secure today as a nuclear threat has been removed. Kerry stated: 'As before, verification will be the core of this agreement. We welcome that Iran has fulfilled the promises it made. Iran has kept its word. We will do the same in return, but we will also be vigilant that Iran's commitments are verified every hour and every day in the future.' The U.S. Secretary of State added: 'With the implementation of the nuclear agreement, the international community can now begin to address other regional challenges, particularly Syria, without worrying about the threat of Iran becoming nuclear-armed.' Kerry also emphasized: 'Today we have once again proven that diplomacy must always be the first option and war the last resort.' The U.S. Secretary of State further praised the members of the Iranian negotiating team, especially Mohammad Javad Zarif and Ali Akbar Salehi, for their constructive and serious approach in these negotiations. Meanwhile, President Barack Obama signed the executive order related to the lifting of economic sanctions against Iran just minutes after the IAEA confirmed Iran's nuclear actions. The lifting of these sanctions includes the release of $100 billion of Iran's blocked assets. Reports indicate that following this executive order from Barack Obama, the U.S. Treasury removed over 400 individuals and companies from its sanctions list. The U.S. Treasury also lifted sanctions against non-American car companies participating in Iran's economy. At the same time, a U.S. official told Reuters that with the lifting of nuclear sanctions against Iran, the country will gain access to over $50 billion of its blocked assets.