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Economic sanctions lifted as Tehran fulfills nuclear agreement with world powers

“A lot of work has gone into getting us here, and implementation of this agreement will require a similar effort”, said IAEA Director General Yukiya Amano in the statement.

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“Implementation day” of the nuclear programme deal is a turning point in the hostility between the two countries, and is a prize for both Mr Obama and Iranian President Hassan Rouhani. “Today, as a result of the actions taken since last July, the United States, our friends and allies in the Middle East, and the entire world are safer because the threat of the nuclear weapon has been reduced”, Kerry said.

Minutes later, United States formally lifted its sanctions on Iran’s banking, steel, and shipping industries with an executive order signed by President Barack Obama.

A range of global leaders have hailed the latest historic milestone, easing anti-Iran sanctions and anticipated to unfreeze from $50 billion to $100 billion of Iran’s global assets.

Rouhani welcomed the IAEA announcement.

The White House said earlier Friday that sanctions relief would not come until the IAEA had verified Iran had met the terms of the agreement and that it was not yet ready to do so. “But we will also remain vigilant in verifying Iran’s compliance every hour of every day in the years ahead”. “We Iranians have reached out to the world… have opened a new chapter in the relations of Iran with the world”, the official IRNA news agency quoted Rouhani as saying.

The US said it was offering clemency to seven Iranians being held in the US for sanctions violation. S. sailors who veered into Iranian waters.

EU High Representative Federica Mogherini (left) and Iranian Foreign Minister Mohammed Zarif announce the implementation of the Iranian nuclear deal on January 16, 2016. Iran says it could boost exports by 500,000 barrels per day within weeks. Most will be lifted immediately.

Iran has always rejected such allegations, arguing that as a committed signatory to the nuclear Non-Proliferation Treaty (NPT) and a member of the IAEA, it has the right to use nuclear technology for peaceful purposes.

Still, he praised the deal – which called for Iran to curb its nuclear program in exchange for a lifting of crippling sanctions – as a landmark achievement for the region and diplomacy.

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Erdan alleged that Iran continues supplying arms to Hezbollah, Hamas and other terrorist groups, intervening in Gulf States’ internal affairs and violating UN Security Council decisions about developing ballistic missiles.

Iran complies with nuclear deal, sanctions are lifted