Iran: U.N. Agency Confirms Nuclear Compliance, Western Sanctions Repealed

January 16, 2016 | 21:41 GMT

The International Atomic Energy Agency released a report Jan. 16 that confirmed Iran has complied with a deal with six world powers to end its nuclear program, AP reported. Shortly thereafter, the European Union and United States formally revoked the measure imposing sanctions on Iran. Tehran will now be able to reclaim around $100 billion in frozen overseas assets. Earlier, Tehran announced that it had released four U.S. prisoners in exchange for Washington dropping charges against 14 Iranians. Iran also released a fifth prisoner, a student, and said it would cooperate with the United States to find Robert Levinson, who Tehran denies having detained. The sanctions repeal is expected to immediately add another 500,000 barrels per day to the global oil glut and an additional 500,000 barrels per day within six months. Sanctions relief will be a welcome reprieve for the Iranian economy, but for President Hassan Rouhani and his supporters