Economics
Iran Sanctions Seen Lifted in Early 2016 by Nuclear Envoys
People celebrate after the 5+1 nuclear agreement was announced on Vali Asr Avenue in Tehran, Iran, on July 14, 2015.
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Oil and financial sanctions on Iran will probably be lifted within the first three months of 2016, according to four western diplomats familiar with the nuclear monitoring process.
Under the terms of a July 14 accord between world powers and Iran, sanctions imposed internationally on the Persian Gulf nation will be lifted in return for restrictions on nuclear work. The Vienna-based International Atomic Energy Agency will assess when Iran has fulfilled the terms of deal, paving the way for the removal of restrictions.