Brussels, Oct 19 (IANS): The European Union (EU) here adopted the legislative framework for lifting all of its nuclear-related economic and financial sanctions against Iran.
The announcement was made in a joint statement by EU foreign policy chief Federica Mogherini and Iranian Foreign Minister Mohammad-Javad Zarif on Sunday, Xinhua reported.
Noting that October 18 is Adoption Day of the Joint Comprehensive Plan of Action (JCPOA) related to the Iranian nuclear programme, the statement said that the lifting of sanctions will take effect on Implementation Day, simultaneously with the International Atomic Energy Agency (IAEA)-verified implementation of agreed nuclear measures by Iran.
On July 14, Iran reached the JCPOA with P5 1, namely the US, Britain, France, Russia and China plus Germany, over its controversial nuclear programme after more than 18 months of marathon talks.
The so-called "Adoption Day", 90 days for the United Nations Security Council endorsed the Iranian deal. It means Iran and the P5 1 will start implementing the obligations under the Iranian nuclear deal.
"We have respected the timetable set out in the JCPOA, which demonstrates our collective will to stick to its provisions," said the statement.
"Iran will now start the implementation of its nuclear-related commitments with the objective of full and effective completion. The IAEA will make the necessary preparations for the monitoring and verification of these steps," it said.
The Joint Commission foreseen under the JCPOA will now convene for its first meeting at the level of Political Directors on October 19 in Vienna, in order to further advance preparations for implementing the Joint Comprehensive Plan of Action, according to the statement.
US President Barack Obama earlier on Sunday ordered his administration to take steps to lift sanctions on Iran by implementing the Iranian nuclear deal reached in July.
Head of Atomic Energy Organization of Iran (AEOI) Ali-Akbar Salehi said on Sunday that the exact time for implementing the measures by Iran relating to JCPOA has not been decided so far, and it would be determined by president Hassan Rouhani.
According to the nuclear agreement between Iran and the world major countries reached on July 14 in the Austrian capital of Vienna, Iran would improve the transparency of its nuclear plan, downsize its capacity for uranium enrichment and do changes in the structure of its heavy water reactor in exchange for international and Western sanctions relief.