EU agrees to suspend economic bans against Iran until November

Photo: EU agrees to suspend economic bans against Iran until November / Iran

The European Union has agreed to suspend until November 24 a series of economic sanctions against Iran over its nuclear energy program, the EU Council has announced, Press TV reported.

In a statement on Monday, the EU said the decision would allow Iran to continue its exports of crude oil.

The decision is due to be endorsed by foreign ministers of the 28-member bloc during their meeting in Brussels on Tuesday.

The measure comes after Iran and the five permanent members of the UN Security Council - the US, France, Britain, Russia and China - plus Germany agreed on the extension of talks until November 24 with a view to achieving a permanent deal that would end the decade-old dispute over Iran's nuclear energy program.

The two sides sealed an interim deal in Geneva, Switzerland, on November 23, 2013, for a six-month period. The deal, which took effect on January 20, expired on Sunday.

Under the deal, dubbed the Geneva Joint Plan of Action, the six countries undertook to provide Iran with some sanctions relief in exchange for Iran agreeing to limit certain aspects of its nuclear activities.

On January 20, the European Union Council suspended part of the sanctions it imposed against Iran following the Geneva nuclear deal.

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