Daily News Egypt

Iran starts new chapter of international ties without sanctions - Daily News Egypt

Advertising Area

Advertising Area

Iran starts new chapter of international ties without sanctions

The restoration of frozen funds will allow Iranian government to enhance its citizens’ economic and living status, says Iranian analyst

The economic sanctions on Iran were officially lifted Saturday after the International Atomic Energy Agency (IAEA) said Iran had committed to the deal signed in 2015 with the West to limit its nuclear activities.

Iranian President Hassan Rouhani said Iran opened a new page in its ties with the world and described the incident as a “golden page” in Iranian history, and a “turning point” in its economy.

“We should use this opportunity for the country’s growth, development, people’s welfare, security, and the stability of the region,” Rouhani said, in statements to Iranian parliamentarians.

“This would not be possible unless we all unite with each other.” He said Iran must take advantage of this and reduce its dependence on oil.

Referring to the Republicans, who still oppose the deal within the US congress, Rouhani said that “everybody is happy about the nuclear deal, except for Zionists, those who are seeking division in the Muslim world and a small extremist group in the US”.

US President Barack Obama signed Saturday an executive order to eliminate the sanctions on Iran, which were related to its nuclear programme, after Iran complied with the agreement.

Starting Sunday, Iran will be able to sell its oil in the international market, buy new planes for its old fleet, restore $100bn from its frozen funds abroad, and gain access to the international SWIFT electronic banking system.

“The official announcement of the implementation of the Joint Comprehensive Plan of Action (JCPOA) means that the Iranian nuclear programme is ‘ever secured’, the tyrannical resolutions against the Iranian nation are cancelled, the sanctions are removed, Iran’s nuclear rights have been accepted by all, and the Iranian economy became a global one,” Rouhani said in another statement.

Western countries welcomed the Iranian commitment to the JCPOA. French Foreign Minister Laurent Fabius said his country welcomed the step and described it as an important step to limit the spread of nuclear weapons.

British foreign minister Philip Hammond said the deal will make the Middle East a safer place. Iranian political analyst Hassan Hany Zadeh told Daily News Egypt that Iran is now entering a new phase of its ties with the West.

“The return of frozen funds will allow the Iranian government to enhance the economic and the living status of Iranians,” Zadeh said.

The value of Iranian currency increased Sunday after the sanctions were lifted. Zadeh believes that at least $156m in Western investments will enter Iran.

According to Zadeh, Iran will play a more important role in the region after rapprochement with the West. “The new ties between Iran and both the EU and the US will of course reflect a positive impact on the conflicts in the Middle East, especially in Syria,” he said.

Zadeh believes there will more ties between Iran and some Arab countries in the future, but said relations with Saudi Arabia “will remain tense as a result of ideological differences”.

Advertising Area

Breaking News

No current breaking news

Receive our daily newsletter