Iran to decrease amount of wheat reserve

Business Materials 13 January 2016 20:31 (UTC +04:00)

Baku, Azerbaijan Jan. 13

By Khalid Kazimov - Trend:

Iran's agricultural ministry plans to decrease the country's wheat reserve as Tehran expects the sanctions to be removed soon. Hossein Dastan, an official with Iranian agricultural ministry, has said that the country plans to decrease the strategic wheat reserves as storing wheat is expensive, Tasnim news agency reported.

According to him the country keeps about five million tons of wheat as the strategic reserve currently but the agricultural ministry plans to decrease the amount to three million after the removal of international sanctions. On the same day Abbas Araqchi, Iran's deputy foreign minister, said that the implementation of Joint Comprehensive Plan of Action (JCPOA) will start in coming days.

The guideline of removing the US and EU sanctions against the Islamic Republic was finalized last week after consultations with Iran, Araqchi said.

Iran's Foreign Minister Mohammad Javad Zarif and EU Foreign Policy Chief Federica Mogherini will issue a joint statement within Jan. 15-17 to declare implementation of the JCPOA, Araqchi said.

Under the JCPOA deal reached between Iran and the P5+1(the US, France, Britain, Germany, China, and Russia) last July, sanctions against Tehran will be lifted in exchange for restrictions on its nuclear activities. The IAEA has been given the role of verifying Iran's commitments under the deal.