US to issue waivers to lift Iran bans on October 18

Washington will formally issue waivers to remove anti-Iran sanctions on October 18 as part of the Joint Comprehensive Plan of Action (JCPOA) clinched between Tehran and the P5+1 group over Iran’s nuclear program.

US officials announced on Thursday that October 18 will be the formal “adoption day” of the JCPOA, adding that both Iran and the six world powers will start to comply with the terms of the nuclear agreement on the date.

Media reports further said that the European Union will also adopt similar measures with regard to lifting sanctions against the Islamic Republic.

However, the ultimate removal of anti-Iran bans will not go into effect until a later, unspecified date called the “implementation day,” which would be when the International Atomic Energy Agency (IAEA) confirms Tehran’s adherence to its commitments under the JCPOA, The Wall Street Journal cited US sources as saying.

“On implementation day, essentially, the sanctions that prevent Iran from doing a lot of this sort of business will be lifted,” said a high-ranking US official, adding, “They have a lot of preparatory steps to take… It was important to them that we be seen as preparing as well.”

Meanwhile, another senior US administration official stressed that “there’s going to be a lot of physical work to be done” regarding the implementation of the nuclear agreement.

“We do expect that there will be significant movement in the months after October 18,” the official stated.

On July 14, Iran and the IAEA signed a road map for “the clarification of past and present issues” regarding Tehran’s nuclear program in the Austrian capital Vienna. The agreement was reached on the same day Iran and the P5+1 - the United States, Russia, China, France, Britain and Germany - finalized the JCPOA in Vienna.

As part of the road map, the IAEA is required to finish its investigations about Iran’s nuclear activities and submit a report to the agency’s board by December 15.

Back on Monday, IAEA Director-General Yukiya Amano said Iran has successfully met its obligations as stipulated in the road map, including an August-15 deadline for sending written explanations on its past activities.

Earlier this week, experts from Iran and the UN nuclear watchdog wrapped up a two-day session in Tehran, during which the Iranian team discussed the questions posed by the IAEA on September 8 with regard to Iran's explanations. According to reports, expert meetings will continue in the city during the first week of the Iranian calendar month of Mehr (late September).

The UN Security Council on July 20 unanimously endorsed a draft resolution turning the JCPOA into international law. All 15 members of the UN body voted for the draft resolution in New York, setting the stage for the lifting of the Security Council's nuclear-related sanctions against Iran.

Under the JCPOA, limits will be put on Iran’s nuclear activities in exchange for, among other things, the removal of all economic and financial bans against the Islamic Republic.

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