Japan will lift Iran sanctions following nuclear deal

The Japanese Cabinet approved on Friday the lifting of sanctions on Iran, following the recent completion of a landmark deal to try to prevent Iran from developing nuclear weapons.

The widely expected move will allow Japanese companies to pursue investment in Iran’s oil and gas industry.

Chief Cabinet Secretary Yoshihide Suga told reporters that the government would cancel bans on Japanese investment in both exports to Iran and in oil and gas-related business.

“We will continue to support the consistent implementation of the final agreement on the Iranian nuclear issue as we see it as a way to enforce nuclear non-proliferation and contribute to stability in the Middle East,” he said.

The U.N. certified last weekend that Iran had met all of its commitments under the nuclear deal, leading to the lifting of long-standing Western economic sanctions on the country.