Spotlight: EU, Iran announce implementation of nuclear deal, sanctions lifted

The European Union (EU) and Iran on Saturday announced the "implementation day" of the historic nuclear deal, which marks victory of diplomacy and the milestone of the Iranian nuclear crisis.

Verified by the UN nuclear agency, Iran has done all the steps to address world concerns in scaling back its nuclear plan, including freezing much of its nuclear material production, which could be used to build nuclear bombs.

"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," International Atomic Energy Agency (IAEA) Director General Yukiya Amano said in a statement.

Iran also promises to provide more transparency of its nuclear program, letting the UN nuclear inspectors be able to monitor Tehran's atomic plan.

Under the deal this progress would trigger a comprehensive relief of the nuclear related sanctions imposed on Tehran simultaneously by the United States, the EU and UN security council, especially the oil embargo.

Iranian Foreign Minister Mohammad Javad Zarif and EU foreign policy chief Federica Mogherini jointly made an announcement of the implementation day of the Joint Comprehensive Plan of Action (JCPOA), the historic nuclear deal reached last July.

Mogherini said the implementation day marks the key fact that diplomacy could resolve tough issue.

Meanwhile, U.S. Secretary of State John Kerry told reporters the world is safer as Iran is barred from nuclear weapon, as all the paths to the bomb are blocked by the deal, Tehran could only use the atomic energy for peaceful purpose, adding that Iran needs to be also compliant to their commitment in the coming years.

The EU lifted its economic sanctions against Iran after the UN nuclear watchdog's announcement.

"As Iran has fulfilled its commitments, today, multilateral and national economic and financial sanctions related to Iran's nuclear program are lifted," Mogherini said.

Shortly after the IAEA announcement, U.S. President Barack Obama on Saturday also signed an executive order to lift sanctions on Iran related to its nuclear program, the White House said.

Meanwhile on another development, Kerry noted the five American prisoners are freed by Tehran and are on their way back to the United States.

Iranian media reported one of the Americans freed is a Washington post reporter, while U.S. releases seven Iranian nationals serving jail terms in a prisoner swap with Tehran.

Iranian media reported students in the country are ready to celebrate the implementation day.

Lifting sanctions would unfreeze a huge amount of assets, around tens of billions of dollars, and allow Iranian oil to be sold internationally. Tehran would be able to get access to the international financial system, after being isolated for years.

International firms are also eager to invest in Iran upon the deal is implemented. Tehran is reportedly to buy over 100 planes from Airbus after being back to the international market.

Tehran said it could significantly increase its oil output as soon as the sanctions are lifted. Endit