As expected, the International Atomic Energy Agency has issued a statement today affirming that Iran is is full compliance with all commitments under the P5+1 nuclear deal, with IAEA chief Amano Yukiya praising all involved for making the pact happen.
The IAEA statement obliges the international community to lift all nuclear sanctions against Iran, something they have wasted no time doing. Even the US, which was believed to be the last to abide by the treaty, has seen an order by the State Department to immediately lift all nuclear sanctions.
This means tens of billions, and by some estimates over $100 billion in Iranian assets, frozen in the West, will be freed up, and Iran will be able to sell its oil internationally like any other country. The freed up assets are expected to set the stage for massive Iranian spending on modernization of their economy.
The last measure Iran needed to complete for compliance, the removal of the core from the Arak Heavy Water reactor, was completed Friday. The reactor, meant to produce medical isotopes, is to be re-designed by one of the P5+1 members, likely China, to satisfy international objections.
The hopes that the implementation would boost international diplomacy with Iran were bolstered by a side deal between Iran and the US to exchange prisoners. Five US detainees were freed in return for seven Iranians in this case.
Iran’s Reformist Rouhani government ran for election heavily on a pledge to make a deal to end the nuclear sanctions, and was eager to get the relief in place before next month’s elections, allowing them to campaign on the success. Though it had initially been speculated today’s confirmations would take until spring, that ultimately was not the case.