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Implementation Day: sanctions are lifted on Iran

Implementation Day: sanctions are lifted on Iran

Report summary

On 16 January 2016, the US and the EU lifted most oil and banking sanctions on Iran, triggering the nuclear deal’s “Implementation Day” and releasing more than US$50 billion in frozen oil export revenues. Shortly before, the International Atomic Energy Agency issued a report confirming that Iran has complied with its nuclear-related commitments. The lifting of sanctions allows Iran to further increase oil exports and foreign investment in its upstream sector is now one step closer.

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