EU to lift partial sanctions on Iran next week

Foreign ministers of the 28-member European Union during their meeting in Brussels on Monday are expected to decide on lifting certain sanctions on Iran following the interim agreement between Tehran and the 5+1 Group in Geneva in November. A senior EU official told journalists in Brussels Friday that by Monday the EU hopes to start implementing the Joint Plan of Action that was adopted in Geneva with Iran implementing some of its commitments it has taken, and on their side EU states implement their commitment which is lifting of different sanctions on Iran adopted in the past. "On Monday morning we will have to receive verification how Iran is engaging in its implementation and after its verification we need to exchange views with our partners (in the 5+1)," said the official speaking on condition of anonymity. "When we have reached common agreement then the decision can be adopted by the Foreign Affairs Council on Monday afternoon the International Atomic Energy Agency in Vienna should be able to tell us early Monday morning whether or not Iran has fulfilled its commitments or not," he noted. Iran, he said, undertook "to stop all of their enrichment activities and to neutralize the current stock of 20 percent enriched uranium." "So no new centrifuge installations and a freezing of current stock of centrifuge installations," he stated. Secondly, Iran undertook to suspend all of their activities of plutonium at its Arak plant. On their side the Europeans undertook to implement suspension of sanctions in transport, insurance and petroleum, trade in gold and precious metals and financial transactions. "We will raise the thresholds of ceilings substantially of which financial transactions will be permitted," he said. These steps are on temporary basis for a six-month period. After six months the EU will consult with the 5+1 (China, France, Russia, UK, US and Germany) to reach a long term agreement on Irans nuclear programme, he added.