The International Atomic Energy Agency (IAEA) said that Iran has completed the necessary steps to start implementing the nuclear deal.

Photo Credit: Channel 2 news

After more than a decade of sanctions, the International Atomic Energy Agency announced tonight (Saturday) that Iran complied with all of its obligations under the agreement with the world powers.  Iran’s Foreign Minister Mohammad Javad Zarif has said: “It is a good day for the world. It proved that we can solve important problems through diplomacy, not threats and pressure.” 

The immediate lifting of the sanctions 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.

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.

Earlier today (Saturday), Iran freed 5 American prisoners. Among those released are Washington Post reporter Jason Rezaian, Marine Veteran Amir Hekmati and Christian Pastor Saeed Abedini. In return, the US will release seven Iranian prisoners.