Implementation Day: sanctions are lifted on Iran

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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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