(MENAFN- Kuwait News Agency (KUNA)) President Barack Obama signed a memorandum Sunday to begin what has been called "adoption day" for Iranian nuclear agreement in which the US will begin issuing waivers on sanctions that will only go into effect once Iran meets its obligations to limit its nuclear program.
After signing the Presidential Memoranda, Barack Obama said in a statement, "Today, Iran begins to take the steps necessary to implement its JCPOA commitments, including removing thousands of centrifuges and associated infrastructure, reducing its enriched uranium stockpile from approximately 12,000 kilograms to 300 kilograms, and removing the core of the Arak heavy-water reactor and filling it with concrete." Adoption day marks the 90 days after the UN Security Council endorsed the agreement finalized by Iran, the EU, and the P5+1 countries. There is no set date for lifting of sanctions known as implementation day since it is contingent upon the International Atomic Energy AgencyØ¢'s (IAEA) certification that Iran has met its obligations.
"We do envision that (implementation) taking a little bit of time. Obviously, the Iranians have an interest in trying to complete those steps as soon as possible. We do envision conversations with the Iranians as this goes forward to monitor their progress," said a Senior State Department official to reporters under condition of anonymity based off State Department guidelines.
Once sanctions are lifted it will permit "buying Iranian oil; that'll include engaging with most Iranian banks or many Iranian banks that will be removed from our sanctions list on that day; it includes the removal of sanctions with respect to the transportation sector and various other economic sectors," said a State Department official.
"Ambassador Tom Shannon and Ambassador Steve Mull will represent the US at the first meetings of the Joint commission created by the (Joint Comprehensive Plan of Action) JCPOA this week, which will focus on ensuring that all participants remain on track for Implementation Day, and we will continue to stay in close touch with Congress going forward," said Secretary of State John Kerry in a separate statement.
Obama reiterated, "I am confident in the extraordinary benefits to our national security and the peace and security of the world that come with the successful implementation of the JCPOA."
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