On Saturday 16th of January the sanctions on Iran by UN’S International Atomic Energy Agency was lifted was lifted. Apparent The International Atomic Energy Agency (IAEA) confirmed that Tehran had kept its side of the deal to limit its nuclear programme. The lifting of the ban has given Iran access to billions of petrodollars frozen in foreign banks and removed the constraint on the country’s crude export.
Following the ban lift Iran on Sunday activated plans to lift oil production by 500,000 barrels a day and India is one of the only six countries which was allowed to buy crude from Iran.
Isreal is however cynical about the news "Iran continues to aspire towards nuclear weapons - the international community mustn't be blinded by the optimism of the IAEA report," Israel's ambassador to the UN, Danny Danon, said in a statement. "The lifting of sanctions oils the wheels of the terror machine Iran operates throughout the world, and Israel will continue to closely monitor all of Iran's actions, regarding its nuclear activity and its terror activity."