IAEA says it needs money to continue Iran nuclear oversight

IAEA needs money to continue Iran nuclear oversight

The International Atomic Energy Agency (IAEA) said it is running out of money to help Iran implement its international nuclear deal and is asking member countries to increase funding.

IAEA said it is receiving 800,000 euros ($924,000) per month through extra-budgetary contributions from member countries, but that will run out by the end of September. The agency will need at least another 160,000 euros ($182,564) per month until the agreement is finalized sometime next year, according to The Washington Times. Once the agreement is in place, IAEA said in the article that it will need about $10.6 million a year to continue verification of the deal.

Iran and six world powers -- including the U.S., Russia, China and Germany -- reached an agreement in July that lifted financial sanctions in Iran in exchange for increased inspections and oversight of Iran’s nuclear program. However, U.S. Republican senators called for documentation of a so-called “side deal” between Iran and the IAEA to help with their decision whether to approve the deal or not. IAEA chief Yukiya Amano said he could not turn those documents over because there is a legal obligation to keep the documents confidential.

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