At the same time, Obama will issue presidential waivers suspending US economic and financial sanctions, and the EU will vote to lift its oil embargo and banking sanctions. The UN resolution would lift six layers of international sanctions, except for an arms embargo and restrictions on missile technology.
None of the sanctions relief measures will take immediate effect, but will be conditional on the IAEA verifying that Iran has carried out all its promised steps. The aim is to have this done by the end of the year.
At that point, $100bn in Iranian assets around the world will be unfrozen. Ordinary Iranians, however, will have to wait several months before feeling the economic benefits.