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Iran oil minister hopes for removal of sanctions soon

Xinhua, April 3, 2015 Adjust font size:

Iran's Oil Minister Bijan Namdar Zanganeh expressed hope on Friday the nuclear deal reached with world powers would lead to removal of sanctions on Iran's oil industry soon, according to Press TV.

"The efforts by Iran's nuclear negotiators are praiseworthy," said Zanganeh, adding that "I hope what has been agreed on in Lausanne talks become operational as soon as possible."

On Friday, Iran's Foreign Minister Mohammad-Javad Zarif said that one of the achievements of Iran in Lausanne nuclear talks was the clear reference of the the Joint Comprehensive Plan of Action (JCPOA) to the removal of all the financial and economic sanctions upon the performance of the final deal.

According to the JCPOA statement released by the U.S. Department of State on Thursday, Iran will receive sanctions relief if it verifiably abides by its commitments.

"U.S. and EU nuclear-related sanctions will be suspended after the IAEA (International Atomic Energy Agency) has verified that Iran has taken all of its key nuclear-related steps. If at any time Iran fails to fulfill its commitments, these sanctions will snap back into place," said the statement.

Top negotiators from Iran and the P5+1 group on Thursday concluded the nine-day Iran nuclear talks in Lausanne and reached common solutions to outstanding issues in a run for a comprehensive deal by June 30. Endit