Iran and six world powers announced Sunday that they’ve agreed on the terms for implementing a recently struck nuclear deal — but the Obama administration continued to battle a bipartisan push for new U.S. sanctions which it claims could jeopardize the pact. The White House said Sunday that the deal will kick in starting Jan. 20. Under the terms of the six-month agreement, Iran will begin to rein in its nuclear program, while the United States and other countries will ease off existing sanctions. Iran will begin receiving blocked overseas funds around Feb. 1, when the nation will receive $550 million, a senior administration official told Fox News.
The six installment payments will continue through July, when the last of the $4.2 billion in funds is scheduled to be transferred. “With today’s agreement, we have made concrete progress,” President Obama said in a written statement. But, in a sign of how sanctions legislation in the U.S. Senate is gaining momentum, Obama used the same statement to reiterate his opposition to that bill — and threaten a veto. “Unprecedented sanctions and tough diplomacy helped to bring Iran to the negotiating table, and I’m grateful to our partners in Congress who share our goal of preventing Iran from acquiring a nuclear weapon,” he said. “Imposing additional sanctions now will only risk derailing our efforts to resolve this issue peacefully, and I will veto any legislation enacting new sanctions during the negotiation.” More