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The European Union says it's lifting some sanctions against Iran after reports from international inspectors that Tehran has suspended high-level enrichment of uranium under an interim agreement to scale back its nuclear program.

The Associated Press reports:

"The deal that went into effect Monday was worked out in talks brokered by EU foreign policy chief Catherine Ashton. The payoff to Iran should be an influx of billions of dollars over the next six months into the Islamic republic's shaky economy."

"British Foreign Secretary William Hague, who voted with other EU foreign ministers in Brussels to suspend some of the sanctions for six months, called the deal "an important milestone."