Wednesday 25 April 2018

Iran to get $5.7bn sanctions relief

Geneva, November 24, 2013

Under a nuclear deal Iran reached with six world powers early on Sunday Tehran can gain access to $5.7 billion of revenues from limited sales of oil and petrochemicals and trade in gold and other precious metals, the US said.

In a fact-sheet the White House distributed on the interim agreement, Iran would receive sanctions relief in exchange for a suspension of some aspects of its nuclear program, including the following:

*  Potential access to $1.5 billion in revenue from trade in gold and precious metals and the suspension of some sanctions on Iran's auto sector, and Iran's petrochemical exports;

* Allow purchases of Iranian oil to remain at their currently significantly reduced levels. "$4.2 billion from these sales will be allowed to be transferred in installments if, and as, Iran fulfills its commitments," the fact-sheet said.

Tags: Oil | Iran | US | Gold | Sanctions |

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