Iran Agrees to Lift Sanctions on Oil and Finance... Europe and US Remain Cautious

President Hassan Rouhani of Iran [Photo by EPA Yonhap News]

[Asia Economy Reporter Byunghee Park] Major foreign media outlets reported on the 1st (local time), citing Iranian state media, that an agreement has been reached on lifting sanctions on Iran's oil and financial sectors in negotiations to restore the Iran nuclear deal (JCPOA·Joint Comprehensive Plan of Action).

Abbas Araghchi, Iran's chief negotiator and Deputy Foreign Minister, said at the JCPOA Joint Commission meeting held in Vienna, Austria, "Sanctions on energy sectors such as oil and gas, the automotive industry, finance, and banking should be lifted according to the agreements made so far in Vienna." He added, "An agreement has also been reached to lift sanctions on most individuals and entities."

Bloomberg News also quoted the semi-official Fars News Agency, reporting Araghchi's remarks that "discussions have reached a mature stage not only on contentious issues but also on those where agreements have been made."

European negotiators expressed a positive atmosphere about the talks but remained cautious.

Mikhail Ulyanov, Russia's representative to Austria, tweeted immediately after the meeting, "It is too early to celebrate. However, there are reasons to be cautiously optimistic," conveying a friendly negotiation atmosphere. He added, "There is no deadline. However, the participating countries aim to successfully conclude the talks within about three weeks," and "The Joint Commission will reconvene around next weekend, and drafting work on future agreement elements will continue."

A senior diplomat from a European country, speaking on condition of anonymity, said, "There is much to do and time is tight. Even so, we hope for progress this week." He added, "We have not yet reached an understanding on the most important parts. Success is by no means guaranteed. But it is not impossible."

The U.S. State Department, when asked for comment, reiterated earlier statements from U.S. officials who described the outlook for the talks as uncertain. Jake Sullivan, U.S. National Security Advisor, said on the 30th of last month that all countries showed a serious willingness to discuss restrictions on sanction relief and the path to returning to the JCPOA, but it remains uncertain whether an agreement will be reached. Ned Price, State Department spokesperson, also said on the 29th of last month that no breakthrough has been found in the negotiations and there is still a long way to go.

This content was produced with the assistance of AI translation services.