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Iran's Mining Sector Gets Boost After 10 Years of International Sanctions
Mining Weekly reported that the Iran nuclear agreement has already begun to boost the Middle Eastern country’s mining sector through global trade and investment after 10 years of international sanctions.
Mining Weekly reported that the Iran nuclear agreement has already begun to boost the Middle Eastern country’s mining sector through global trade and investment after 10 years of international sanctions.
As quoted in the market news:
US-based think-tank the Council on Foreign Relations (CFR) recounts that the US, the United Nations (UN) and the European Union imposed multiple sanctions on Iran for its nuclear programme since the International Atomic Energy Association (IAEA), the UN’s nuclear watchdog, found in September 2005 that Tehran was not compliant with its international obligations.
“The US spearheaded international efforts to financially isolate Iran and block its oil exports to raise the cost of Iran’s efforts to develop potential nuclear weapons capability and bring its government to the negotiating table,” the CFR says.
However, Iran agreed to restrictions on its nuclear programme and intensive inspections in the agreement signed with China, France, Russia, the UK, the US and Germany on July 14. The CFR explains that, under the agreement, many of the most punishing sanctions are poised to be lifted when the IAEA verifies that Iran has taken steps such as reducing its stockpiles of fissile materials and centrifuges.
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