Iran, Swiss Co. signs petrochemicals deal

TEHRAN, June 12 (KUNA) — Iran and Switzerland signed on Sunday an agreement in the petrochemicals sector, the first deal since international sanctions were lifted on the Islamic Republic because of its nuclear program.
Swiss Engineers Welding company will be building and operating Sadaf petrochemicals complex in Iran, the official IRNA news agency reported, explaining the deal.
The five permanent UN Security Council (UNSC) members plus Germany, also known as P5+1, reached an agreement with Iran last year that ended a 12-year-old standoff over Tehran’s nuclear program.
The agreement lifts the EU, US and UN sanctions on Iran in return of downgrading the nuclear program. (end)