International sanctions on Iran are lifted

Market news

18 January 2016

International sanctions on Iran are lifted

International sanctions on Iran were lifted over the weekend after the International Atomic Energy Agency announced that Tehran had fulfilled its commitment.

Iran said on Sunday that it plans to raise its exports by 500,000 barrels per day.

Iran is a member of the Organization of the Petroleum Exporting Countries (OPEC), and is the fifth biggest OPEC oil producer.

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