A sanctions relief package offered to Iran as part of nuclear negotiations could be worth up to $40 billion to Tehran, Israeli Strategic Affairs Minister Yuval Steinitz said on Wednesday. Israel is strongly opposed to the proposed sanctions relief.
Steinitz also said that Israel believed the sanctions put in place by the United States and European Union last year cost Iran's economy around $100 billion per year. "The sanctions relief directly will reduce between 15 to 20 billion dollars out of this amount," he said Wednesday at an event hosted by the Jerusalem Press Club. (Reuters)