(Reuters) Maayan Lubell - A sanctions relief package offered to Iran as part of nuclear negotiations could be worth up to $40 billion to Tehran, or 40% of the impact of the sanctions, Israeli Strategic Affairs Minister Yuval Steinitz said Wednesday. Steinitz said Israel believed the sanctions put in place by the U.S. and EU last year cost Iran's economy around $100 billion per year, or nearly a quarter of its output. "The sanctions relief directly will reduce between $15 to 20 billion out of this amount," Steinitz told the Jerusalem Press Club on Wednesday. He said that the proposed changes would also make it more difficult to enforce other sanctions, providing a total benefit to Tehran of up to $40 billion. "It's not the core sanctions about oil exports and the banking system, but it's very significant relief for the Iranians."
2013-11-15 00:00:00Full ArticleBACK Visit the Daily Alert Archive