Reuters: US Warns Governments and Banks About the Persistence of Iran Sanctions

Diplomatic sources have told Reuters that the Obama administration has reminded world governments and American banks that sanctions against Iran remain in place and has warned Western companies not to rush into investing in Iran's oil industry and other sectors of its economy before the full implementation of the nuclear agreement. Government diplomatic sources informed Reuters that the State Department has sent a cable to US embassies worldwide emphasizing that Iran's sanctions are still in effect. A diplomatic source based in London told Reuters that the US government wants to inform various countries not to take premature actions in dealing with Iran. Meanwhile, an informed source in the Obama administration has stated that the State Department has recently conveyed this message to its embassies globally. According to Reuters, the timeline for the complete lifting of sanctions against Iran is unclear, but some experts say that if Iran proves its compliance with the Vienna nuclear agreement or the Joint Comprehensive Plan of Action (JCPOA), some financial transactions with Iran could be possible next year. An unnamed US official told Reuters that the government regularly communicates with countries, the private sector, and stakeholders regarding the provisions of the agreement (with Iran). This official, who was not authorized to comment publicly on the agreement with Iran, also stated that in addition to conveying the message about the persistence of sanctions by the State Department, US officials have held discussions with executives from banks and oil companies in Washington and New York. Since the nuclear agreement in Vienna, high-level economic delegations from Western countries, including Germany, France, and Italy, have visited Iran. Reports indicate that during this time, major global oil companies such as Royal Dutch Shell, Total of France, and Eni of Italy have engaged in high-level negotiations with Iranian oil officials. Iran and six world powers reached a comprehensive agreement in Vienna on July 14 to resolve the Islamic Republic's nuclear dispute. Under this agreement, known as the Joint Comprehensive Plan of Action or JCPOA, Iran's nuclear program is limited, and in return, most international sanctions against Tehran will be lifted. The Iranian parliament has yet to approve or reject this agreement. The Islamic Consultative Assembly has until October 18 to announce its final opinion regarding the nuclear agreement.