Former Israeli Ambassador: Iran to Get $700 Billion in Sanctions Relief

Iran's President Hassan Rouhani smiles while replying to a question during a news conference on the sidelines of the 69th United Nations General Assembly at United Nations Headquarters in New York September 26
Hassan Rouhani / AP

Iran is slated to receive some $700 billion in sanctions relief and economic windfalls as a result of a recently inked nuclear accord reached with global powers, according to former Israeli Ambassador Michael Oren.

Oren, citing Israeli government sources, claimed in a recent op-ed that the Obama administration is being deceitful about the full cost of reaching a deal with Iran.

Sanctions on Iran will be removed, and international companies will have the opportunity to pursue business interests in Tehran, resulting in a huge profit for the Islamic Republic, according to Oren.

"These [sanctions] cannot be ‘snapped back’ if Iran were to violate the deal, as its defenders contend, but reinstated only after a lengthy international process that excludes all the contracts signed by Iran before it were to cheat," Oren writes in Politico.

"As such, the deal serves as an incentive for foreign companies to sign a great number of short- and medium-term contracts with Iran," according to Oren. "The windfall is estimated to reach $700 billion, according to Israeli government sources."