One year after agreement on the comprehensive nuclear deal between Iran and the six world powers and six months after its implementation, many Iranians are still not feeling the economic benefits of the lifting of sanctions. With presidential elections less than a year away, officials from the administration of President Hassan Rouhani are in the uncomfortable position of having to continue to sell the benefits of the deal to an Iranian public that is increasingly distrustful of US intentions to hold up its end of the agreement.

Deputy Foreign Minister Abbas Aragchi, a top nuclear negotiator who now heads the staff overseeing implementation of the nuclear deal, sat down with Iranian television July 11 to update the public on the status of the deal.

Ongoing US sanctions on Iran that prohibit international investors from using the dollar for transactions with it are one of the main obstacles keeping Iran from taking advantage of the nuclear deal and international sanctions relief. These banking sanctions have created reservations among many foreign companies eager to do business with Iran. Aragchi explained that they are primary sanctions — that is, ones unrelated to the nuclear deal.

Aragchi said that although the central bank of Iran had told Iranian nuclear negotiators that this was an important issue that needed to be addressed, the Americans did not agree to lift the banking sanctions. Aragchi also remarked that if Iran were to negotiate on these sanctions, it would have to offer additional concessions. Citing US court rulings confiscating billions of dollars belonging to Iran, Aragchi said Iran would prefer to remain outside the US dollar system.