Iran's Foreign Minister Mohammad Javad Zarif | BEHROUZ MEHRI/AFP/Getty Images Iran complies with nuclear deal, sanctions lifted A UN watchdog agency announces Saturday that the isolated nation fulfilled its obligations under a landmark July agreement.

A U.N. watchdog agency certified Saturday that Iran has met the requirements of last year's landmark deal to impose limits on its nuclear program, paving the way for the lifting of most sanctions.

The announcement that Iran has fulfilled its obligations under the agreement will allow Western countries to start or revive their relationship with an important player in the Middle East and an attractive commercial market.

The International Atomic Energy Agency said that its "inspectors on the ground verified that Iran has carried out all measures required under the (July deal)... to enable Implementation Day to occur." The U.S. and the EU quickly announced the suspension of the sanctions.

"Today marks the first day of a safer world," U.S. Secretary of State John Kerry said from Vienna, Austria.

Federica Mogherini, the EU's foreign policy chief, called the deal "both strong and fair and meets the requirements of all."

Iran and six world powers, including the U.S., France and Germany, signed the deal in July that constrains the isolated nation's ability to build a nuclear bomb in exchange for access to billions in oil revenues and frozen assets. The deal, known as the Joint Comprehensive Plan of Action, followed years of on-and-off negotiations and opened a new chapter in relations with the Islamist republic.

Tehran met the deadline earlier than many Western officials had expected. Officials in the Obama administration had speculated that it would take until the spring.

"This evening we were really reminded once again of diplomacy’s power to tackle significant challenges," Kerry said.

Kerry sought to head off critics of the deal, saying it will now take Iran at least a year to develop nuclear weapons. "If Iran ever did decide to do that, because of the steps that are in this agreement, we would know it almost immediately and we would have enough time to respond," he said. "Verification remains, as it always has been, the backbone of this agreement."

Iran "has kept its word and we will continue to do the same," Kerry added. "But we will also remain vigilant in verifying Iran's compliance, every hour of every day in the years ahead."

U.S. House Speaker Paul Ryan, a Republican, was quick to criticize the move towards implementation.

“Today, the Obama administration will begin lifting economic sanctions on the world’s leading state sponsor of terrorism," Ryan said in a statement. "As the president himself has acknowledged, Iran is likely to use this cash infusion — more than $100 billion in total — to finance terrorists. This comes just weeks after Tehran's most recent illegal ballistic missile test, and just days after the IRGC detained ten American sailors. A bipartisan majority in the House voted to reject this deal in the first place, and we will continue to do everything possible to prevent a nuclear Iran."

The implementation announcement came hours after Iran agreed to release four imprisoned Americans, including Washington Post reporter Jason Rezaian, in exchange for the U.S. release of several Iranians, including some with American citizenship.

The European Council suspended sanctions under a legal framework it adopted in October.

The first phase involves the lifting of economic and financial sanctions, including all measures related to oil, gas, petrochemical sectors, gold, and all measures related to finance, banking, insurance, shipping and transports.

“There will be no longer the requirement of authorization and notification for transfers,” a Western official said. “Banks can re-open corresponding banking relations.... Insurance can be provided.”

There will also be a “massive de-listing” of about 550 people and entities that were sanctioned by the EU, the U.S. and the United Nations, the official said. For the EU, the official said, “it means mainly all Iranian banks.”

The second phase, starting in eight years, will affect mainly proliferation-related sanctions.

The EU, the United States and the United Nations had adopted resolutions between 2006 and 2015 imposing sanctions to stop Iran from working to build an atomic weapon.

The sanctions regime related to concerns about Iran's human rights record and support for terrorism will remain in place, the official said.

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