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Obama: It Takes Time For Iran To Reintegrate With Global Economy

U.S. President Barack Obama (file photo)

U.S. President Barack Obama (file photo)

U.S. President Barack Obama says it will take time for Iran to rejoin the global economy after the international community lifted sanctions on Tehran in exchange for Iran curbing its controversial nuclear program.

"It will take time for Iran to reintegrate into the global economy, but Iran is already beginning to see the benefit of this deal," Obama said at a meeting of world powers in Washington on April 1.

Tehran has complained that continuing U.S. restrictions on banks have prevented it from getting the full benefit of economic relief that was supposed to come from the lifting of nuclear-related sanctions in January.

Iran's Supreme Leader Ayatollah Ali Khamenei recently accused the United States of failing to follow the terms of the July 2015 landmark nuclear agreement between Iran and the world powers.

Khamenei said Washington has lifted sanctions "on paper" but "in fact, they are working to prevent the lifting of sanctions from taking effect."

Some opinion polls in Iran also showed skepticism about the country's economic situation following decades of sanctions.

Many nuclear-related sanctions on Iran ended when the deal was implemented on January 17.

Obama's administration is reportedly considering easing restrictions that prohibit foreign firms from doing transactions with Iran in the U.S. dollar, the world's main business currency. The move likely would help Iran's troubled economy.

Based on reporting by AFP, AP, and Reuters