Possible nuclear deal to remove sanctions against Iran: state media

A possible nuclear deal between Iran and world powers, which may be announced in the coming days, will remove economic and weapons sanctions imposed on Tehran, state media reported Monday

If a final agreement is reached, the Joint Comprehensive Plan of Action (JCPA) will include the removal of all economic, financial and banking sanctions against Iran on the day when the deal comes into effect, a source "privy to the talks" was quoted by semi-official Fars news agency as saying.

The JCPA only envisages a set of temporary economic restrictions that will be removed after a limited and logical period of time, the report said.

Iran will no more be subject to any arms embargo under a UN Security Council resolution to be announced on the day when the deal is signed, it added.

The JCPA is a collection of multiple agreements that all fall within the redlines specified by the Iranian Supreme Leader Ayatollah Ali Khamenei, according to the report.

Iran has long been trying to get rid of the sanctions in the nuclear talks. Tehran demands all such punitive measures should be lifted all at once after the nuclear deal is reached while the Western powers wanted a step-by-step removal of the sanctions in case Iran does not comply with the deal.

The sanctions have done much harm to Iran's economy and trade. Iranian experts believe that the Islamic republic will have at least two percent of economic growth in the first year following the removal of the sanctions.

Also, with large oil and gas reserves, Iran is widely seen as a potential key emerging market in the sluggish global economy, if sanctions can be lifted.

Also on Monday, Iranian negotiator Abbas Araqchi warned of unresolved issues in the talks. "Talks have reached the final breathtaking moments, but certain issues still remain," Abbas Araqchi told reporters in Vienna.

Iran and the world powers have made real progress at the negotiation table. However, "it cannot be said with certainty that parties to the negotiations will arrive at a conclusion by Tuesday," he added.

Iran and the P5+1 group (Britain, China, France, Russia, the United States plus Germany) have been negotiating for nearly two weeks in Vienna for a comprehensive deal on Iran's nuclear program.

Following the presentation of a framework agreement in Lausanne, Switzerland, in April, the parties were originally set to reach a final deal on June 30.

As some tough issues remained, they postponed the deadline to July 7 and then to July 13. Endit