International sanctions on Iran will be lifted on 16 January, when the United Nations nuclear agency declares Tehran has complied with an agreement to scale back its nuclear programme, Iran’s foreign minister said. Foreign Minister Javad Zarif arrived in Vienna, headquarters of the International Atomic Energy Agency (IAEA), the UN body expected to issue a report triggering the lifting of sanctions imposed by the UN, US and European Union.

The report, if issued, would mark the consummation of the 14 July 2015 nuclear agreement. Under the deal, Iran agreed to shrink its atomic programme in exchange for the lifting of some sanctions, which would allow billions of dollars of investment to flow into the country.