Iran to Receive Sanctions Relief After Meeting Nuclear Commitments

I welcome today's announcement that Iran has met its commitments under the Joint Comprehensive Plan of Action nuclear deal.

The Director-General of the International Atomic Energy Agency (IAEA) has said this brings about 'Implementation Day' for the plan of action, which was agreed with the five permanent members of the UN Security Council and Germany.

This plan of action aims to constrain Iran's nuclear program over the long term; provide verifiable assurances to the international community that Iran's nuclear activities will remain exclusively peaceful; and ensure that any attempt by Iran to pursue a nuclear weapon would be detected promptly.

It is expected that sanctions on Iran, under UN Security Council Resolution 2231, will be lifted after the Security Council has received the IAEA report in coming days.

The Australian Government will then move to lift relevant UN and certain autonomous sanctions, including economic sanctions.

The easing of these sanctions will ensure that Australian business is not disadvantaged in pursuing opportunities in Iran.

Australia will continue to enforce sanctions on military exports for five years, and maintain restrictions on ballistic missile-related materiel for eight years.

Full details on Australia's sanctions regime in relation to Iran can be found on the Department of Foreign Affairs and Trade website.