Iran eyes oil market as nuclear deal enters implementation phase

Vienna

WORLD powers and Iran set the clock ticking on a landmark accord placing limits on the Islamic Republic's nuclear work in return for access to oil and financial markets.

Sunday's adoption of the deal means that all sides will have to begin implementing the pledges they made three months ago. For Iran, that means mothballing thousands of centrifuges, eliminating 95 per cent of its enriched uranium stockpile and retrofitting a reactor. The US and Europe will make preparation to lift sanctions, which will only occur once the Iranian measures are in place.