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EU extends suspension of sanctions on Iran until November

July 22, 2014 at 1:03 pm

The European Union decided yesterday to extend the suspension of sanctions imposed on Iran specified in the Joint Plan of Action agreed by P5+1 and Iran last year until November 24, the Anadolu news agency reported.

An EU statement said: “The suspension of sanctions allows the provision of insurance and transport in relation to the Iranian crude oil sales to current customers, import, purchase or transfer of Iranian petrochemical products as well as trade in gold and precious metals with the Iranian government and public bodies.”

The six world powers decided on November 24, 2013, to ease sanctions imposed on Iran under the Joint Plan of Action, also known as the interim agreement with Iran in Geneva, until they reached a comprehensive solution to the Iranian nuclear file.

The EU High Representative for Foreign and Security Policy, Catherine Ashton and the foreign ministers of the P5+1 agreed, during their meeting with the Iranian Foreign Minister Mohammad Javad Zarif last Saturday in Vienna to extend the suspension of sanctions until November 2014 from its original deadline on July 20.

This year, Iran and P5+1 held six rounds of talks without reaching a final agreement due to disagreements over several issues, mainly Iran’s nuclear future, the permitted number of centrifuges and the Arak nuclear plant.

P5+1 include the five permanent members of the UN Security Council; United States, Britain, France, Russia and China plus Germany.