Implementation of Iran nuclear deal - US, EU scrap sanctions on Iran

CNC
Added On January 17, 2016

The United States and European Union lifted nuclear-related sanctions on Iran on Saturday as the Iran nuclear deal went into effect.
 
The UN nuclear watchdog IAEA confirms that Iran has kept its side of last year's agreement with six major powers, by significantly scaling down its nuclear program.
 
The U.S. and EU lifting economic sanctions against Iran over the country's nuclear program.
 
The UN nuclear agency IAEA confirms that Iran has complied with a historic nuclear deal it reached with six world powers last summer.
 
The IAEA says Iran has done all the steps to address world concerns in scaling back its nuclear plan.
 
Iran also promises to provide more transparency of its nuclear program, letting UN nuclear inspectors be able to monitor Tehran's atomic plan.
 
Under the deal, this progress triggers a comprehensive relief of nuclear-related sanctions imposed on Tehran simultaneously by the U.S., the EU and UN security council, especially the oil embargo.
 
On Saturday, Iranian Foreign Minister Mohammad Javad Zarif and EU foreign policy chief Federica Mogherini jointly made an announcement of the deal's implementation.
 
Mogherini says the historic day proves a key fact that diplomacy could resolve tough issue.
 
The EU lifted its economic sanctions against Iran after the UN nuclear watchdog's announcement.
 
Shortly after the IAEA announcement, U.S. President Barack Obama also signed an executive order to lift sanctions on Iran related to its nuclear program.
 
The sanctions' lifting would unfreeze a huge amount of assets, around tens of billions of dollars, and allow Iranian oil to be sold internationally.
 
Tehran would be able to get access to the international financial system, after being isolated for years.
 
On the same day, five American prisoners were freed by Tehran and are on their way back to the United States.
 
Iranian media reported one of the Americans freed is a Washington post reporter, while U.S. releases seven Iranian nationals serving jail terms in a prisoner swap with Tehran.