U.S.: Iran Sanctions Will Be Reinstated Within Days If Agreement Is Violated

A senior U.S. Treasury Department official stated on Wednesday, August 14, that the U.S. will continue to target Iran's support for militia networks even with a nuclear agreement that reduces sanctions on Tehran. Adam Zubin, the acting deputy Treasury Secretary for terrorism and financial intelligence, said in a Q&A session with the Senate Banking Committee, "Iran has between six to nine months to meet the necessary conditions for the initial lifting of sanctions." He noted that if Iran disregards its commitments under the nuclear agreement, U.S. sanctions could be reinstated in just "a matter of days." Zubin specified that Iran's foreign reserves are $100 billion, of which $50 billion has been spent on various expenses, leaving only $50 billion available to Iran. The deputy Treasury Secretary added that Iran needs $500 billion to return to its status from seven years ago. He emphasized that if Iran violates the nuclear agreement, even "limited violations," the U.S. will respond appropriately to prevent larger violations. Wendy Sherman, the U.S. Deputy Secretary of State, also stated that sanctions were vital for bringing Iran to the negotiating table but did not stop Iran's nuclear program. She remarked that this agreement is a "good deal" for the U.S., Israel, and the world, and outlined actions Iran must take under this agreement: "Iran must reduce two-thirds of its centrifuges, limit its enriched uranium from 12,000 kilograms to 300 kilograms, and concrete the Arak reactor core, with 24-hour monitoring through cameras in Iranian nuclear facilities." Sherman further added that Iran must complete all requested steps by the agency by October 15 regarding the resolution of its potentially military nuclear program, and no sanctions will be lifted until these are completed. The Deputy Secretary of State clarified that sanctions will not be entirely eliminated but can be reinstated within days. In another part of her remarks, she stated that the U.S. government is prepared to consider providing additional security assistance to Israel simultaneously with the implementation of the nuclear agreement with Iran. She noted that the Obama administration was ready to consider increasing security assistance to Israel if Prime Minister Benjamin Netanyahu was prepared. Netanyahu has repeatedly stated that the nuclear agreement with Iran poses a threat to Israel's existence and has called for its rejection by Congress. Congress has until September 17 to reject or approve this agreement.