EU to remove CBI sanctions

TEHRAN, Sep. 20 (MNA) – An EU court issued a verdict to remove restrictions imposed upon Central Bank of Iran (CBI) on charge of circumventing US-led sanctions. Since 2012 West has imposed US-led sanctions upon the Islamic Republic's Central Bank to prevent conducting transactions with the CBI and further blockaded all its assets in the Europe. West imposed sanctions on Iran’s oil and financial sectors to prevent other countries from purchasing Iranian oil, seeking to cripple Iran's economy. The Luxembourg-based EU's Court of Justice announced the verdict while Iran and P5+1 scheduled to start seven round of negotiations on Tehran nuclear program on Friday in New York. Iran and the five permanent members of the UN Security Council – US, UK, France, Russia, China – plus Germany reached an interim deal in Geneva in 2013 November. According to the interim nuclear deal the Sextet accepted to ease sanctions against Iran in return for the Islamic Republic restricting certain aspects of its nuclear activities. The Geneva deal, which lasted for 6 months, came into effect on January 20, 2014. It expired on July 20, 2014 but the two sides, after 6 rounds of negotiations, did not come to any agreement to start drafting a final comprehensive deal and agreed to extend the duration of the Geneva deal until November 24, 2014.