United States and European Union remove sanctions against Iran

After an IAEA report stating Iran is fulfilling the terms of the nuclear deal, USA and EU lifted Sanctions against Iran on 16 January 2016.

The move is expected to impact the oil prices, pushing them further down, since the end of sanctions means Iran can freely rejoin the oil market as a supplier. The oil prices have been steadily falling lately, seriously damaging financial state of oil exporting nations, such as Russia.

Oil prices

Sourcehttp://www.oil-price.net/

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