US details pause in sanctions against Iran

 With the International Atomic Energy Agency having verified that Iran has fulfilled its initial nuclear commitments pursuant to the Joint Plan of Action (JPOA), the State Department announced that the Obama administration "has taken the necessary steps to pause efforts to further reduce Iranian crude oil exports, allowing the six current customers of Iranian oil to maintain their purchases at current reduced levels for the duration of the JPOA." In addition, the administration is working with its partners and Iran to establish financial channels to enable Iran to make payments for humanitarian transactions and medical expenses, university tuition payments for Iranian students studying abroad and the payment of Iran's United Nations obligations, the announcement said. Further, the administration "took the necessary actions to suspend for the duration of the JPOA sanctions on non-U.S. persons engaged in transactions related to Iran's petrochemical exports, certain trade in gold and precious metals with Iran, and the provision of goods and services to Iran's automotive sector," it said.In addition, the United States government will license transactions for spare parts, inspections and associated services necessary for safety of flight for certain Iranian aviation, it said. The JPOA and associated sanctions suspensions will be in force for six months, the announcement noted. This includes allowing Iran access to a limited sum of its funds restricted abroad, allocated in installments over the next six months, it said."All sanctions relief is contingent upon Iran's continuing adherence to the nuclear steps outlined in the initial understanding in Geneva and detailed in the technical commitments made subsequently," the announcement said. "If it is determined that Iran has failed to meet these commitments, the United States government will revoke this limited sanctions relief." In a separate announcement, the department noted that U.S. Under Secretary Wendy Sherman will travel to Switzerland today for continuing negotiations with Iran this week.Sherman was to hold meetings today with the political directors of the P5 plus 1 (China, France, Russia, Britain and the United States plus Germany, coordinated by European Union High Representative Catherine Ashton) on "next steps for negotiations with Iran on a comprehensive solution to concerns about its nuclear program," the announcement said. On Tuesday, Sherman will travel to Montreux, Switzerland, to join Secretary of State John Kerry for the Geneva II talks on Syria, then travel back to Geneva on Wednesday for follow-on negotiations for the Geneva II conference, it said.