Iran nuclear deal takes effect on 20 January – reports

13 January 2014 03:18  [Source: ICIS news]

SINGAPORE (ICIS)--Iran and the six major powers agreed on Sunday to implement a deal that will effectively curb the Middle Eastern country’s nuclear activities in exchange for sanctions relief on 20 January, according to media reports.

The interim deal, which will have a six-month duration, was reached on 24 November 2013 in Geneva, Switzerland after a series of negotiations.

“The Geneva deal will be implemented from 20 January,” Marzieh Afkham of the Iranian Foreign Ministry was quoted as saying in Mehr news agency, according to Reuters.

International sanctions have tightened on Iran in recent years as the country is suspected to be developing nuclear weapons.

Under the terms of the deal, Iran must limit its uranium enrichment activities. In return, some sanctions will be relaxed, including suspension of some restrictions on trade in gold, precious metals and petrochemicals, and in the auto industry, Reuters reported.

By: Pearl Bantillo
+65 6780 4359

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly