Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

EU's Mogherini: no set date for dropping Iran sanctions, could be soon

Published 01/11/2016, 10:08 AM
Updated 01/11/2016, 10:08 AM
© Reuters. EU foreign policy chief Mogherini arrives at a European Union leaders summit in Brussels

PRAGUE (Reuters) - The European Union has no firm timeframe for lifting sanctions on Iran and the move could come soon, the bloc's foreign policy chief Federica Mogherini said on Monday.

"There is no set date yet. The date is going to be related to the full implementation of all the steps that need to be taken," she said at a news conference after meeting Czech Foreign Minister Lubomir Zaoralek.

"I can tell you that my expectation is that this day could come rather soon. The implementation of the agreements is proceeding well."

Iranian President Hassan Rouhani said in a speech broadcast live on state television on Monday as he inaugurated new gas projects: "We are hopeful that the sanctions against Iran would be lifted in the next few days."

Lifting the sanctions would clear the way for an influx of cash to reinvigorate Iran's out-dated oil and gas industry.

"Iran has met its commitments under the July nuclear agreement earlier than expected," Behrouz Kamalvandi, the spokesperson for Iran's atomic energy agency, said in an interview the Iranian Etemad newspaper published on Monday.

"Implementation of JCPOA will finish in the next 7 days," he added, referring to the deal known as the Joint Comprehensive Plan of Action.

© Reuters. EU foreign policy chief Mogherini arrives at a European Union leaders summit in Brussels

Iran struck the deal with world powers last year that imposed curbs on its nuclear program in return for easing sanctions that have badly hurt its oil exports and development of its oil and gas fields.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.