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Iran reaches historic agreement with world powers

Posted on July 15, 2015 by Grace Montealegre

After several months of dialog, the world’s main powers reached an agreement with the Iranian government to curve Tehran’s nuclear program. With the pact, the economic sanctions imposed on Iran will be raised.

The agreement signed in Vienna by the United States, Russia, China, United Kingdom, France, Germany and Iran, not only ends a confrontation that put a halt to the Iranian oil industry for about three years, but finishes decades of tension between Ayatollah's regime and Washington.

The sanctions imposed on Iran, which meant shrinking of its oil exportations by approximately two million barrels per day, will be removed, once international organisms have verified the nuclear program’s detention. Then, the country’s industry will be able to get back on track. According to international analysts, Vienna’s agreement is a geopolitical milestone that will change international relations and revive Iran as a development pole in its region.

La Nota Economica - Media Partner