Iran Deal Moves Forward As U.S. And EU Line Up Sanction Waivers

Source: Reuters

Sun Oct 18, 2015 4:01pm EDT

The United States and the European Union both took formal legal steps on Sunday that will lift sanctions once Iran meets the conditions tied to a landmark nuclear agreement with major world powers.

The legal acts have no immediate effect but cement a process that began with a deal reached in July to end sanctions against Iran in exchange for curbs on a program that the West suspected was aimed at developing a nuclear bomb.

For the waivers to come into force, Iran, which has always denied seeking nuclear weapons, must now demonstrate to the International Atomic Energy Agency (IAEA) that it has restricted its nuclear program as promised, a process that Western officials say is likely to take at least two months.

Sunday was "adoption day" for the agreement clinched in Vienna by Iran, the United States, Britain, France, Germany, Russia and China and endorsed 90 days ago by the United Nations.

Read more: http://www.reuters.com/article/2015/10/18/us-iran-nuclear-usa-idUSKCN0SC0CH20151018