YEREVAN. – Development of neighboring Iran will help the entire region, President of Armenia Serzh Sargsyan said.

Development of Iran and its full participation in the international processes stems from Armenia's interests, the Armenian leader said during a joint press conference with European Council president Donald Tusk.

In line with the agreement reached in Vienna on July 14, Iran is supposed to drastically reduce the stock of low-enriched uranium, as well as dismantle some key nuclear facilities, such as heavy water reactor in Arak and Fordow underground enrichment plant.

In return, the EU and the U.S. will lift oil embargo and other trading limitations, as well as will allow Iran to access to Swift electronic banking system.