By Fredrik Dahl and Justyna Pawlak VIENNA/BRUSSELS (Reuters) – Iran has halted its most sensitive nuclear activity under a preliminary deal with world powers, winning some relief from economic sanctions on Monday in a ground-breaking exchange that could ease the threat of new war in the Middle East. The United States and European Union both announced they were suspending some trade restrictions against the OPEC oil producer after the United Nations’ nuclear watchdog confirmed that Iran had met its end of the November 24 agreement. Tehran is expecting to be able to retrieve $4.2 billion in oil revenues frozen overseas and to resume trade in petrochemicals, gold and other precious metals. The mutual concessions are scheduled to last six months, during which time six powers – the United States, Russia, China, France, Britain and Germany – aim to negotiate a final accord defining the scope of Iran’s nuclear activity.
Source: http://news.yahoo.com/powers-iran-activate-landmark-nuclear-deal-iaea-nod-000607901–finance.html