Mubasher: Foreign subsidiaries of American companies are now allowed to do business with Iran following the removal of US economic sanctions on the Islamic Republic, according to the US Treasury Department.
US authorities also lifted restrictions on non-American purchases of Iranian oil, as well as the sale of goods and services to Iran's energy sector, add the Treasury.
The US and European held a meeting on late Saturday in Vienna, where the final details of the implementation of the nuclear agreement were ironed out.
Brent crude fell below $29 by the end of last week for the first time since February 20014, while Brent futures reached $28.94 and US crude stood at $29.42.
Iran said on Saturday that it is still determined to raise its oil output by 500,000 barrels per day (bpd) as soon as the sanctions on its oil industry are lifted.
