Sanctions against Iran are set to be lifted following news from the UN nuclear watchdog that the Islamic Republic has complied with its nuclear promises.
Watchdog the International Atomic Energy Agency confirmed on Saturday that Iran had put into place all the measures required to begin implementing the nuclear deal agreed with six world powers in July, meaning sanctions imposed by US, UN and EU could be lifted within hours.
IAEA director general Yukiya Amano said in a statement: "Iran has completed the necessary preparatory steps to start the implementation of the Joint Comprehensive Plan of Action."
He added: "This paves the way for the IAEA to begin verifying and monitoring Iran’s nuclear-related commitments under the agreement, as requested by the U.N. Security Council and authorised by the IAEA Board.
"Relations between Iran and the IAEA now enter a new phase. It is an important day for the international community. I congratulate all those who helped make it a reality, especially the group of countries known as the E3/EU+3, Iran and the IAEA Board."
Following the removal of the sanctions, which have dramatically reduced the country’s exports and left many Iranians facing economic hardship, Tehran stated that the country could increase oil exports by around 500,000 barrels per day within weeks, according to Reuters.
Earlier on Saturday, relations between Iran and the US thawed significantly, with US President Barack Obama pardoning three Iranian-Americans charged for violating sanctions against Iran, while five Americans, including Jason Rezaian, a reporter for the Washington Post, are set to be released by Iran.
