By David JacksonThe United States is expected to sign an agreement to ease sanctions on Iran in the face of a new US president, who has threatened to destroy Iran’s nuclear facilities and said he will seek a military strike against Tehran.
Reuters/Reuters/Associated PressThe agreement, expected to be announced on Tuesday, will lift sanctions on more than 50 Iranian companies, including oil giant Aramco and the nation’s biggest banks, in exchange for lifting some of the country’s toughest economic sanctions.
“The U.S. will support efforts to achieve a peaceful resolution to the crisis in Syria, Iran and other countries, including through the establishment of a multilateral forum on Iran’s regional activities,” a White House statement said.
“A multilateral dialogue and negotiation process will ensure that the United States does not have to sacrifice our own interests or security in the pursuit of a negotiated solution to the Syrian crisis.”
Under the agreement, the US will lift the sanctions on Iranian banks, energy companies and energy infrastructure, allowing Iran to reopen its banks and restart its oil industry.
Reuters photoAn Aramco logo is pictured in this illustration photo taken on July 12, 2018.
An Aramcos logo is seen on a car as it is driven in a parking lot at the company’s plant in southern Iran, June 12, 2021.
Iran’s President Hassan Rouhani speaks during a joint news conference with Saudi Crown Prince Mohammed bin Salman, in Tehran, Iran, April 29, 2021.(Photo credit should read FARS-AFRANIMO/AFP via Getty Images)The U, however, is expected not to do so by lifting sanctions on the oil and banking sectors alone.
Instead, the agreement will also open up the country to U.N. sanctions and allow it to apply sanctions to U,S.
businesses, foreign governments and corporations, the statement said, adding that the U. S. and Iran will be allowed to set up a “free trade zone” that would facilitate the flow of U. and international goods and services.
Under the deal, the U, too, will apply sanctions on a range of U.,S.
and foreign entities.
The U. will also impose sanctions on certain Iranian officials and banks, the White House said.
The US. has been working on the deal since Trump took office in January, but the US and Iran have yet to finalize any agreement.
The deal would also require the U to halt uranium enrichment and ballistic missile development, but Trump has said he would allow Iran to continue to develop those weapons.
Under Trump, the deal was widely viewed as a victory for Tehran, which had previously argued that the pact would harm the US economy and make Iran a “threat” to the region.
Under a Trump presidency, Iran has been seeking to secure more than $150 billion in relief from the US financial sanctions that the country faces.
Trump, however a former businessman and real estate developer, has repeatedly questioned the value of the deal and his administration has said it is not ready to certify it as a deal.
The White House did not say if Trump would sign the deal when it is signed.