Iran President Hails Lifting of Energy Sanctions under U.S. Accord

Iran President Hails Lifting of Energy Sanctions under U.S. Accord
(Tuesday, June 30, 2026) 16:59

QOM, Iran, June 29 (NIPNA) — Iranian President Masoud Pezeshkian described a recent memorandum of understanding between Iran and the United States as a major diplomatic milestone, confirming that the framework includes the removal of primary sanctions targeting the Islamic Republic's oil and petrochemical sectors.

Speaking during an official visit to the holy city of Qom on Monday, Pezeshkian characterized the agreement as a significant development aimed at restoring the country's broader trade links.

Mitigating Industrial Pressure

During a meeting with senior cleric Ayatollah Shubairi Zanjani, the president outlined the administration's strategic preparations to navigate prolonged economic restrictions. Pezeshkian noted that past external measures deliberately targeted Iran's critical infrastructure—including natural gas production facilities, steel mills, and petrochemical plants—with the intent of halting industrial development and driving up domestic unemployment.

"The determination of the nation ensured the continuity of our development despite targeted constraints on crude oil marketing," Pezeshkian stated.

Alongside the newly secured sanctions relief, the president affirmed that the government is rolling out parallel domestic initiatives to stabilize consumer markets and support household livelihoods, including an expansion of the state-backed electronic subsidy coupon program.

Asset Repatriation Underway

The president also provided operational updates on the repatriation of frozen Iranian financial assets overseas under the negotiated framework.

According to Pezeshkian, an initial $6 billion out of a total $12 billion in Iranian funds currently held in Qatari banking institutions has been unfrozen and is being transferred back to the country. Active diplomatic and financial channels are currently being pursued to facilitate the return of the remaining balance.

 


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