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Iran to get access to billions of dollars under atom deal, says U.S.

Under the deal, Iran would receive limited sanctions relief in exchange for the suspension of some parts of its nuclear program

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Under a nuclear deal Iran reached with six world powers early on Sunday Tehran can gain access to billions of dollars of revenues from limited sales of oil and petrochemicals and trade in gold and other precious metals, the United States said.

In a fact-sheet the White House distributed on the interim agreement, Iran would receive sanctions relief in exchange for a suspension of some aspects of its nuclear program.

These include potential access to $1.5 billion in revenue from trade in gold and precious metals and the suspension of some sanctions on Iran’s auto sector, and Iran’s petrochemical exports.

Relief also includes allowing purchases of Iranian oil to remain at their currently significantly reduced levels.

“$4.2 billion from these sales will be allowed to be transferred in installments if, and as, Iran fulfills its commitments,” the fact-sheet said.

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