Swiss suspend sanctions on Iran after nuke deal

GENEVA (AP) - The Swiss government has suspended its trade ban with Iran on precious metals in the wake of a nuclear deal among major powers over Iran's nuclear program.

The Federal Council, which includes the president and six other ministers, says it also is relaxing the mandatory reporting on activities such as transportation and insurance associated with sales of Iranian petroleum products.

In a statement Wednesday the Council said the threshold for declaring money transfers involving the Iranians is being increased tenfold. The suspensions are valid through Aug. 14.

The action comes after the five permanent members U.N. Security Council _ Britain, China, France, Russia and the U.S. _ plus Germany reached a deal in November for Iran to restrict uranium enrichment and improve transparency in exchange for lifting some sanctions.


(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Top Stories
ATTENTION COMMENTERS: We've changed our comments, but want to keep you in the conversation.
Please login below with your Facebook, Twitter, Google+ or Disqus account. Existing MyNorthwest account holders will need to create a new Disqus account or use one of the social logins provided below. Thank you.
comments powered by Disqus
Sign up for breaking news e-mail alerts from MyNorthwest.com
In the community
Do you know an exceptional citizen who has impacted and inspired others?
KIRO Radio and WSECU would like to recognize six oustanding citizens this year. Nominate them to be recognized and to receive a $2,000 charitable grant.