Iran’s parliament – Majlis, approved the Joint Comprehensive Plan of Action (JCPA) or ‘Vienna agreement’ paving the way for implementation of the historic nuclear agreement.
The agreement was signed by Iran and P5+1 countries comprising of the United States, the United Kingdom (UK), Russia, China, France and Germany on 14 July 2015 on the Iran nuclear programme. It ended a 12-year stand-off.
The agreement, on one hand, allows Iran to develop its nuclear programme for peaceful purposes while on the other hand it lifts the economic sanctions on Iran.
According to the agreement, the restrictions on defensive arms will be lifted before those on offensive arms.
It means that the conventional arms embargo (an official ban on trade or other commercial activity with a particular country) will last another five years, and restrictions on ballistic missile technology will last eight years.
The deal also provides for the lifting of economic sanctions imposed outside of the EU, like the banking and insurance restrictions on Iran by the EU and the US.