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EU extends suspension of sanctions on Iran.

BRUSSELS, July 21 (KUNA) -- The EU Monday decided to extend until 24 November the suspension of EU sanctions specified in the Joint Plan of Action agreed by P5+1 and Iran on 24 November 2013.

While the remainder of the EU sanctions remain in place, the suspension allows: the provision of insurance and transport in relation to Iranian crude oil sales to current customers, the import, purchase or transport of Iranian petrochemical products, as well as trade in gold and precious metals with the Iranian government and its public bodies.

The increase in thresholds for authorising financial transfers to and from Iran also remains in force, noted an EU statement.

The legal acts will be published in the EU Official Journal later on today.

The EU High Representative Catherine Ashton and the foreign ministers of P5+1 (China,France, Russia, UK, US plus Germany) in a meeting with Iranian foreign minister Javad Zarif in Vienna last Saturday decided to extend the implementation of measures of the Joint Plan of Action until 24 November 2014, from the original deadline of 20 July.

The Joint Plan of Action is expected to lead towards a comprehensive and verifiable diplomatic solution to concerns about the Iranian nuclear programme. (end) nk

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Publication:Kuwait News Agency (KUNA)
Geographic Code:7IRAN
Date:Jul 21, 2014
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