EU sanctions against Iran could be lifted in December

Some of the EU sanctions on Iran could be lifted as early as next month, as part of a nuclear deal with world powers, France’s Foreign Minister Laurent Fabius says.

Laurent Fabius was speaking after crowds in Tehran cheered negotiators who had agreed to curb some of Iran’s nuclear activities in return for sanctions relief.

The six-month interim deal agreed in Geneva prompted a fall in oil prices on markets on Monday.

Meanwhile, Israel’s PM Benjamin Netanyahu has warned the agreement is a “historic mistake”.

President Barack Obama phoned Benjamin Netanyahu to discuss the deal on Sunday. He told the Israeli leader he understood Israel “has good reason to be skeptical about Iran’s intentions” and promised to consult its ally closely, the White House said.

Laurent Fabius told French radio on Monday that “Iran is committed to giving up the prospect of nuclear weapons. It’s perfectly clear”.

However, the French foreign minister insisted that the temporary deal could be reversed if its terms were not adhered to: “As long as some things remained to be settled, nothing is settled.”

EU foreign ministers would meet “in a few weeks” to put forward a proposal partially to lift some sanctions on Iran, which the 28-member bloc would then have to approve. The limited lifting of sanctions would take place “in December”, he added.

France, the UK and Germany, the US, Russia and China took part in the talks with Iran, hosted by EU foreign policy chief Catherine Ashton.

Under the deal which will last six months, Iran would receive some $7 billion in “limited, temporary, targeted, and reversible [sanctions] relief” while a permanent agreement is sought.

In return, Tehran has agreed to a series of measures surrounding its nuclear programme.