The UN confirmed that Iran has now complied with its obligations and the US and the European Union announced they were lifting sanctions that have crippled the country's economy for years. US and Iranian prisoners have also been released and are on their way home.
Iran President Hassan Rouhani, a moderate, who has helped to bring about the agreement, said that 2016 would be a year of prosperity for 79 million Iranians.
An article in the New York Times in 2014 pointed out just how much the Iranian people have suffered because of these sanctions.
In Iran, the impact of sanctions has been devastating. Over the last year and a half, families living in poverty rose from 22 per cent to more than 40 per cent, the Rial plummeted at least 40 per cent and the price of food regularly consumed by Iranians - for example, milk, tea, fruits and vegetables - skyrocketed. Moreover, the health of millions of Iranians has been compromised due to the shortage of western medical drugs and supplies. Asian replacements have proved ineffective and often result in severe side effects.
One would think that President Obama has done a good thing by bringing Iran back from Coventry, right? Wrong.
Republican candidate Ted Cruz criticized the move and said 'our enemies are laughing at us' and suggested the deal is part of the president's overall weak foreign policy.
And this is the man who will most likely be elected president later this year. Are you worried? Absolutely!