The Swiss government announced Wednesday that it will lift economic sanctions it has imposed on Iran since January 2014.
The sanctions will be lifted Thursday, the government said, citing the new deal between Tehran and world powers to curb Iran’s nuclear program, Reuters reported.
“The Federal Council (government) wishes today’s steps to be seen as a sign of its support for the implementation of the nuclear agreement and its interest in deepening bilateral relations with Iran,” a statement said.
The U.S. Congress will vote next month on whether to approve the deal, which has been championed by the Obama administration but fiercely opposed by Republican lawmakers.
The nuclear agreement would see the lifting of billions of dollars of Western sanctions on the Islamic Republic.
A report last week estimated that the surplus budget and unfrozen assets Iran would receive from the nuclear deal could increase the budget for Tehran’s Quds Force, the elite military force that actively supports terrorist organizations in the middle east budget by 50 percent.