Iran's economy enters new era as sanctions lifted

Iran has emerged from  years of economic isolation as sanctions imposed on Tehran has been lifted subsequently with the implementation of Iran’s historic nuclear deal with world powers, thus unlocking access to $100 billion in frozen assets

The International Atomic Energy Agency has confirmed that Iran has scaled down its nuclear program, paving the way to end Western sanctions under Tehran's deal with world powers.
US President Barack Obama on Saturday signed an executive order to lift sanctions on Iran related to its nuclear program
Iran's implementation of the nuclear-related measures ..., as verified by the International Atomic Energy Agency, marks a fundamental shift in circumstances with respect to Iran's nuclear program," Obama said in the executive order issued by the White House.
Bringing the international diplomacy to a fruitful conclusion,the European Union and the United States lifted economic sanctions that have long isolated Iran as a long-sought deal to settle the conflict over Tehran's nuclear program comes into effect.

The news also coincided with Tehran also announcing the release of five Americans including Washington Post reporter Jason Rezaian as part of a prisoner swap with the United States.


The agency’s Director General Yukiyo Amano said that "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."

Head of the Atomic Energy Organization of Iran (AEOI) Ali Akbar Salehi said that Iran gained its "right" through support from the Iranian nation and Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei.
Iran's President Hassan Rouhani has hailed the lifting of international sanctions against his country as 'a golden page in Iran's history' and 'a turning point' in its economy.
Fulfilling electoral promise of getting rid of economic sanctions,  Iranian President Hassan Rouhani  is set to face a parliamentary election at the end of February.
Rouhani government  will be  able to use  frozen assets amounting to tens of billions of dollars  and paving way for  significant number of Western as well as Eastern companies to invest  in Iran’s different sectors, including oil and gas, transferring funds to overseas .
 Iran and the five permanent members of the UN Security Council – Britain, China, France, Russia and the United States – plus Germany finalized the JCPOA in Vienna, on July 14, 2015.

Under the JCPOA, limits are put on Iran’s nuclear activities in exchange for the removal of sanctions against the Islamic Republic

Lifting of 30 years of sanctions will effect Iran economically, strategically and geopolitically. By shifting the balance of power in favor of Iran and other Shiite coalitions, Iran will emerge as a major player in the Middle East.

America's thaw with Iran is being viewed criticised by US Republicans , Israel and Saudi Arabia. Recently Saudi deliberately executed Shiite cleric Nimr Baqr al-Nimr despite repeated warnings from Tehran that carrying out the death penalty against him would have repercussions.

Regional conflict escalated  as Iran said Saudi Arabia made a “strategic mistake” and  Saudi Arabia rallied its Sunni allies to sever diplomatic ties with Iran

Bahrain , United Arab Emirates,Sudan and  Indian Ocean archipelago Comoros  joined Saudi Arabia in cutting off relations with Iran thereby heightening sectarian tensions across the Middle East.