Iranian president Hassan Rouhani. Image courtesy of IranianMediaBox2/Youtube.

Iranian president Hassan Rouhani said Thursday that Iran will only sign an international nuclear agreement if western sanctions are lifted as soon as the deal is signed.

In a televised address Rouhani said Iran will not sign onto a final nuclear deal with six international governments unless both western and United Nations sanctions are lifted on the same day, Reuters said.

“We will not sign any deal unless all sanctions are lifted on the same day … We want a win-win deal for all parties involved in the nuclear talks,” Rouhani said.

A White House spokesman said Monday that sanctions would be phased out over time under the deal.

Iran reached a framework deal with six international powers last week that would lift economic and oil sanctions in exchange for curbed nuclear development.

The deal has stoked concerns that Iranian oil will flood already swollen global crude inventories, potentially slowing down a crude price recovery.

Western sanctions have restricted Iran’s crude exports to 1 million barrels a day from a high of 2.5 million barrels per day since 2012.

Iran currently produces about 3.5 million barrels of crude per day, according to OPEC.

Under the proposed deal Iran will grant International Atomic Energy Agency inspectors access to its nuclear facilities and significantly cut its number of installed centrifuges.

The deal would also limit Iran’s stockpile of enriched material and prevent the OPEC member from building any new enrichment facilities for 15 years.

The U.S. State Department has said sanctions against Iran for terrorism, human rights abuses and ballistic missiles would remain in place under the deal.

Representatives from the United States, Russia, China, Britain, France and Germany are expected to restart negotiations in the coming days.

A final agreement is expected by June 30.


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