(VOVworld) – US President Barack Obama has signed an executive order lifting sanctions imposed on Iran for the past 20 years because Tehran has abided by the nuclear agreement. This has opened new opportunities for Iran and marked a diplomatic achievement for President Obama.

The historic agreement to lift US sanctions on Iran was ratified at the Palais Coburg Hotel in Vienna after 37 years (photo: DailyMai)

President Obama signed the order on January 17, following a report by the International Atomic Energy Agency (IAEA) affirming Tehran’s compliance with the nuclear deal signed with P5+1 in July, 2015. Iran can now access 100 billion USD previously frozen in foreign banks, sell its oil, and trade with other countries.

Iran immediately released 4 American prisoners including Jason Rezaian, a reporter for the Washington Post, as part of a prisoner exchange. On Wednesday Iran freed 10 American sailors and two small Navy vessels that Tehran claimed strayed into Iranian waters.

Removing sanctions on Iran, criticized as a top terrorist sponsor, represents a diplomatic success for the Obama administration. Over the past several decades, the world has witnessed a prolonged confrontation between Iran and the west. Since Obama began his presidential term, he has considered Iran a diplomatic priority despite great political obstacles. Iran and the US engaged in a series of tough negotiations before finally reaching an agreement.  The historic nuclear deal Iran signed with P5+1 (US, Russia, UK, France, and Germany) last July seemed to have indicated Obama’s policy.

It has helped to restore confidence in Obama and silence criticism from the Republicans. Obama’s policy on Iran has demonstrated the US’s core values of democracy and freedom, and bolstered its image as a champion of world peace, not as a belligerent country.