Iran has exported a shipment of crude oil to Europe for the first time since the United Nations lifted sanctions against the country after Tehran agreed to curb its nuclear ambitions last month, reported AP. Iran's official news agency quoted the Deputy Oil Minister saying that the shipment, which was the first in five years, marks a "new chapter in the country's oil industry". He did not elaborate, but media reports said several western tankers have loaded Iran’s oil in recent days.

The country plans to add one million barrels to its oil production following the implementation of the UN nuclear deal. The Star reported that Iran has already reached agreement to export oil to France, Russia and Spain. During his Europe trip last month, Iranian President Hassan Rouhani signed billions of dollars worth of business deals with Italy. Rouhani expects economic opportunities and more access in Europe in the future.