Report Paving Way For Iran Sanctions Relief Likely Saturday
Source: Reuters
An IAEA report verifying that Iran has kept its promises under last year's nuclear deal with world powers and triggering sanctions relief for Tehran is likely to be issued on Saturday, a diplomatic source said on Friday.
The report, if issued, would mark the consummation of the July 14, 2015 nuclear agreement. Under the deal, Iran agreed to shrink its atomic program in exchange for the lifting of some EU, U.S. and U.N sanctions, which would allow billions of dollars of investment to flow into the country.
In a sign its implementation may be at hand, U.S. Secretary of State John Kerry, Iranian Foreign Minister Mohammad Javad Zarif and EU foreign policy chief Federica Mogherini will meet in Vienna on Saturday, the U.S. State Department said.
"All parties have continued making steady progress towards Implementation Day of the JCPOA, which will ensure the exclusively peaceful nature of Iran's nuclear program," said State Department spokesman Mark Toner, referring to the formal title of the deal, the Joint Comprehensive Plan of Action.
Read more: http://www.reuters.com/article/us-iran-nuclear-iaea-idUSKCN0UT275
Iran Oil Headed For India, Europe, With Sanctions Lifting
With Iran ready to resume business as usual with the world under a historic nuclear deal, Tehran will target India, Asia's fastest-growing major oil market, and old partners in Europe with hundreds of thousands of barrels of its crude.
Iran expects the United Nations nuclear watchdog to confirm on Friday it has curtailed its nuclear program, paving the way for the unfreezing of billions of dollars of assets and an end to bans that have crippled its oil exports.
Tehran plans to lift exports by 500,000 barrels per day (bpd) post-sanctions and gradually raise shipments by the same amount again, adding to a global glut and likely putting more pressure on oil prices which have already dropped 70 percent since 2014, to below $30 per barrel.
Iran has 22 Very Large Crude Carriers (VLCCs) floating off its coast, with 13 fully or almost fully loaded, mapping data on Thomson Reuters' Eikon showed, carrying enough crude to meet India's import needs for almost a week.
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http://www.reuters.com/article/us-iran-oil-exports-idUSKCN0UT098
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karynnj
(59,504 posts)Congratulations to the UN and to the Obama administration leading on these deals. (On climate change, the problem was designing something the US did not need to ratify and Kerry and Obama did a great job on that. )
Uponthegears
(1,499 posts)Obama's best year. With precious little to show from the Arab Spring era, delivering on climate change AND a the Iran nuclear deal restored Obama's foreign policy legacy.
karynnj
(59,504 posts)Which in any other year would have been the biggest foreign policy accomplishment.
These three things, plus the huge changes on gay rights, ACA, plus pulling the economy back from the cliff - all big firsy term accomplisments. Altogether they add up to Obama likely having the most significant accomplishments since FDR.
