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Iran to have access to over $100 billion when deal implemented - U.S. officials
July 14, 2015 / 12:19 PM / 2 years ago

Iran to have access to over $100 billion when deal implemented - U.S. officials

Chinese Foreign Minister Wang Yi, French Foreign Minister Laurent Fabius, German Foreign Minister Frank Walter Steinmeier, High Representative of the European Union for Foreign Affairs and Security Policy Federica Mogherini, Iranian Foreign Minister Mohammad Javad Zarif, British Foreign Secretary Philip Hammond and U.S. Secretary of State John Kerry (L-R) pose for a family picture after the last plenary session at the United Nations building in Vienna, Austria July 14, 2015. REUTERS/Leonhard Foeger

VIENNA (Reuters) - Iran would get access to more than $100 billion in frozen assets when the Iran nuclear agreement is implemented, which depends on when Tehran has curbed its nuclear program and the U.N. nuclear watchdog has certified this, U.S. officials said on Tuesday.

The officials, who spoke on condition of anonymity ahead of the formal announcement of the deal, said that U.N. Security Council sanctions could be reimposed on Iran within 65 days in the event of Iranian noncompliance with the deal.

The accord includes a provision under which Iran can be required to provide the International Atomic Energy Agency (IAEA) with access to suspected nuclear sites, including military sites, or with other means to address their concerns, within 24 days if a majority of a panel overseeing the deal insists.

The eight-member commission includes Britain, China, France, Germany, Russia, the United States, Iran and the European Union, the officials said. As a result the United States, the three European nations and the EU can oblige Iran to provide such access and Tehran, Beijing and Moscow could not veto this.

If Iran refused to comply, one U.S. official said that the major powers could then move to “snapback” or reinstate U.N. Security Council sanctions against Iran, a process that itself can take place within 65 days.

Reporting By Arshad Mohammed; Editing by John Irish

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