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Obama: US lifts economic sanctions against Iran

Obama: US lifts economic sanctions against Iran

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Date: 17 January 2016 01:52

President Barack Obama has signed executive orders lifting economic sanctions on Iran, AP reported.

Obama signed the orders Saturday afternoon after the International Atomic Energy Agency certified that Iran had met its obligations to the nuclear watchdog. Removing the sanctions is part of the international agreement reached last year among Iran, the U.S., and five other world powers when Iran agreed to curbs on its nuclear program in exchange for sanctions relief.

Lifting sanctions will allow Iran to immediately recoup some $100 billion in assets frozen overseas. Iran will also see huge benefits from new oil, trade and financial opportunities.

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