Here is a summary of the actions which have followed the declaration from the UN’s nuclear watchdog that Iran is fulfilling its obligations under a deal reached with world powers last year to curb its nuclear programme:
The EU has lifted all its finance, trade and travel restrictions introduced in reponse to Iran’s nuclear programme
The US is lifting sanctions that prevented foreign companies from doing business with Iran, although restrictions will remain on American firms. Washington has pledged to lift barriers on Iranian imports
The US has separately imposed sanctions on 11 Iranian individuals and businesses suspected of supporting the country’s ballistic missile programme
The UN has lifted most sanctions on Iran, however…
Iran will be banned from selling weapons for five years.
Iran is theoretically allowed to receive components for its ballistic missile programme if approved by the UN security council, but the US has promised to veto any requests.
Technology for Irans nuclear electricty programme cannot be imported for another decade.
Five Americans held in Iran have been freed. They are
*Jason Rezaian, the Washington Post’s Tehran bureau chief held on spying charges in 2015
*Saeed Abedini, a pastor held in 2012 for holding Christian church meetings
*Amir Hekmati, a former marine jailed in 2011 on spying charges while he claimed he was visiting his grandmother
*Nosratollah Khosravi-Roodsari, whose imprisonment had not been previously reported
*Matthew Trevithick, a student and writer
Seven Iranians held by the US accused of violating sanctions have also been released: Nader Modanlo, Bahram Mechanic, Khosrow Afghani, Arash Ghahreman, Tooraj Faridi, Nima Golestaneh and Ali Saboun.
A further 14 Iranians sought by the US are being removed from an Interpol wanted list.
The US and Iran reached a deal in the Hague allowing $400 million in cash which had be frozen since 1981 to be released back to the Iranians. The money, originally a payment to US for arms that were never delivered, had accumulated $1.3 billion in interest which will also be returned.
A US official told Reuters that another $50 billion of Iranian overseas assets would be made available for the country’s urgent economic need. It is unclear what will happen to another $50 billion still believed to be frozen.
Iran is planning to purchase up to 114 civil aircraft from European manufacturer Airbus to replacing its aging fleet, crippled for years by sanctions.
Such a deal could be worth over 9 billion euros.