After 8 years of harsh sanctions, the International Atomic Energy Agency is likely to state in its report that Iran had compiled with the agreement made last July. Iran’s Foreign Minister Mohammad Zarif is scheduled to meet his US counterpart Secretary of State John Kerry in Vienna for the big announcement.







Kerry and Zarif

Kerry and Zarif Photo credit: Reuters/Channel 2 News

The eight-year-long economic sanctions imposed on Iran due to their dangerous nuclear program is expected to be lifted on Saturday, as the International Atomic Energy Agency is likely to state in its report that Iran had complied with the agreements made last July with the world powers.

Iranian Foreign Minister Mohammad Javad Zarif is making his way to Vienna to meet his American and EU counterparts, John Kerry and Federica Mogherini respectively. They are likely to announce the immediate lifting of the sanctions, which will dramatically improve the Iranian economy. Iran will be able to add an extra 500,000 barrels a day to its crude exports.

In addition, Iranian banks will re-establish connections with the European financial system and private firms will be able to pursue business opportunities without fear of Western punishment.









Photo credit: Reuters/Channel 2 News

If it is discovered at any time that Iran had not fulfilled its commitments to significantly reduce its nuclear activity, the world powers will be able to re-impose the sanctions within 65 days.

“It is a good day for the world,” Zarif said. “It proved that we can solve important problems through diplomacy, not threats and pressure.”