Xinhua, May 26, 2016 – The U.S. has lifted all nuclear-related sanctions as promised in the nuclear deal with Iran, but has not changed the primary U.S. embargo on the Islamic Republic, said an official of the U.S. Treasury Department Wednesday.
The U.S. will continue to prohibit Americans from investing in Iran, importing or exporting to Iran most goods or services, or otherwise engaging in commercial or financial dealings with most Iranian persons or companies, said Adam Szubin, acting under secretary of the Treasury Department, adding that the embargo long pre-dates Washington’s concerns with Tehran’s nuclear program.
“Along these lines, let me also say clearly that we have not promised, nor do we have any plans, to give Iran access to the U.S. financial system,” Szubin said before the House Committee on Foreign Affairs.
On the nuclear deal that dubbed the Joint Comprehensive Plan of Action (JCPOA), Szubin reiterated that it is in the national security interest of the U.S. to ensure that the deal “works as intended and stands the test of time.”
“Iran’s breakout time has been extended to beyond one year, and we are all safer because of it,” he said.
Szubin said Iran is already seeing the benefits of this deal, adding that it has opened new banks accounts around the world and gained access to billions of dollars in reserves.