Dubai channel upbeat about prospect of end to Iran sanctions

Local IT channel awaits nuclear talks deal with Iran

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Dubai channel upbeat about prospect of end to Iran sanctions Rughwani says the DCG is advising Dubai-based IT resellers to wait for guidelines on doing trade with Iran should sanctions be lifted.
By  Manda Banda Published  July 20, 2014

In the wake of increased Western pressure on Iran to make concessions over its nuclear programme after it and six world powers failed to meet a July 20 deadline for a deal to end the decade-old dispute, the local IT sector remains optimistic a comprehensive agreement that should lead to the eventual lifting of sanctions is in the offing.

Countries involved in the talks agreed to extend the high-stakes negotiations by four months to November, 2014, and let Iran access another $2.8bn of its cash frozen abroad during that period, though most sanctions on the Islamic Republic stayed in place.

Under the terms of the latest extension of the negotiations, Iran will be able to access during this time a relatively small portion of an estimated more than $100bn held abroad, in return for limits to its nuclear programme.

The deal prolongs - with some adjustments - an interim deal hammered out last year, under which Iran halted its most controversial nuclear work in exchange for some easing of sanctions.

Shailendra Rughwani, president, Dubai Computer Group, (DCG) and managing director at Experts Computer Group, said although the association has been monitoring the nuclear talks that are aimed at striking a deal to end over a decade of trade sanctions imposed on Iran, it is very important for all Dubai-based IT resellers to wait and follow the guidelines on the exempted products that will be allowed should the embargo be lifted.

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