German Vice Chancellor Due in Tehran Next Week

(FNA)- German Vice Chancellor Sigmar Gabriel is planning to visit Iran in coming days, Iranian Oil Minister Bijan Namdar Zanganeh announced on Wednesday.

"The German vice chancellor will come to Tehran next week," Zanganeh told reporters on Wednesday.

Gabriel, also Germany's economy minister, will head a high-ranking delegation during the visit to Iran that will take place at the invitation of the Iranian oil ministry.

The German vice chancellor's visit to Tehran will take place after Iran and the six world powers inked the long-awaited sum-up agreement on Tuesday.

German companies have urged their government to boost efforts to promote trade relations with Iran as western sanctions imposed against Iran will be lifted soon.

Based on the agreement, the UNSC sanctions against the Islamic Republic, including all economic and financial bans, will be terminated at once under a mutually agreed framework and through a new UN resolution.

The nuclear-related economic and financial restrictions imposed by the United States and the European Union (EU) targeting the Iranian banking, financial, oil, gas, petrochemical, trade, insurance and transport sectors will at once be annulled with the beginning of the implementation of the agreement.

The arms embargo imposed against the Islamic Republic will be annulled and replaced with certain restrictions, which themselves will be entirely removed after a period of five years.

Additionally, tens of billions of dollars in Iranian revenue frozen in foreign banks will be unblocked.

A total of 800 natural persons and legal entities, including the Central Bank of Iran (CBI), the Islamic Republic of Iran Shipping Lines and the National Iranian Oil Company (NIOC), will be taken off sanctions lists.