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Iranian parliament approves nuke deal with world powers

Iran’s parliament on Tuesday approved a landmark nuclear deal concluded in July between Tehran and several western powers, the Islamic Republic News Agency (IRNA) reported.

The deal was approved with 161 votes in favor and 59 against, while 13 MPs abstained, according to IRNA.

On July 14, Iran and the so-called P5+1 group (the five permanent members of the UN Security Council plus Germany) signed a final nuclear agreement, also known as the Joint Comprehensive Plan of Action.

According to the terms of the deal, Tehran agreed to limit some of its nuclear activities in return for having longstanding sanctions on the country lifted.

After the removal of sanctions, Iran plans to raise its oil and gas production through an anticipated influx of foreign investment in hopes of boosting energy exports with a view to generating more revenue for its troubled economy.

Iran, however, must wait until Dec. 15 for the removal of sanctions, when the International Atomic Energy Agency is expected to issue a final report on Tehran’s nuclear activities.

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