Today, I released a report confirming that Iran has completed the necessary preparatory steps to start the implementation of the Joint Comprehensive Plan of Action. The report was submitted to the IAEA Board of Governors and to the United Nations Security Council. ... full statement ...After the IAEA issued the report confirming Iran's compliance with the nuclear deal, Secretary of State John Kerry signed a waiver lifting Congressional enacted sanctions related to Iran's nuclear program. At the same time, President Barack Obama issued a new executive order to lift sanctions that were enacted under his authority, and the U.N. and EU moved to provide sanctions relief to Iran.
With sanctions lifted, the Iranian oil minister has said his country will immediately begin selling as much of its crude oil onto the world energy market as it can produce to generate cash the country badly needs to help its economy recover from years of sanctions. Unfortunately, Iran rejoins the world energy market just as the world energy market slumps into a deep price depression.
Sanctions background
