Whilst in Washington, Obama announced on Sunday, January 17, that the United States would be imposing new, more limiting sanctions on many Iranian companies and individuals. This appertains to recent violations over United Nations resolutions against ballistic missile tests. The much lamented move came just a day after more broad sanctions had been removed.

In fact, the sanctions had been prepared long beforehand but were precluded temporarily by the Treasury Department. The announcement was released while a Swiss plane carried away American soldiers whom had been detained in Iran after an American ship allegedly trespassed Iranian waters was captured. The authorities in Tehran and American diplomats quickly organized for their freedom, and it seemed as if relations had warmed after such prompt and amenable negotiations.

Obama himself had hoped that the compromise would signal a new advent for more friendly and constructive relations between the two nations. Tehran and Washington have for decades struggled to check each other over regional ambitions and ideological conflict concerning mostly Iran.

“We have a rare chance to pursue a new path [and] a different, better future that delivers progress for both our peoples and the wider world,” said Mr. Obama. “That’s the opportunity before the Iranian people. We need to take advantage of that.”

Regardless of such hopeful expressions, Obama had reminded his entourage and the public that he would be observant of Iran’s nuclear program to ensure that its government would not break agreement. He added that the new sanctions were in reaction to ballistic missile tests, but Obama did not elaborate on details.

“Eleven entities and individuals involved in procurement on behalf of Iran’s ballistic missile program” would be the target of sanctions, according to the Treasury Department’s official statement, as well as “five Iranian individuals who have worked to procure ballistic missile components for Iran.”

The Iranians, on the other hand and contrary to one’s expectations, couldn’t be happier with the state of events.

The current sanctions only apply to the few targets mentioned, so Iranians won’t suffer their slightest effect. Really, the current sanctions pale in comparison to those lifted the day before, for those had excluded Iran from global markets and frozen over 100 billion in assets. Iranian oil firms were now able to export millions of barrels, yielding over $30 million a day according to current rates. The Iranian people, too, were allowed access to markets and goods that had been largely absent during sanctions.

Iran’s President, Hassan Rouhani, did not comment on the prisoner exchange with the US that Sunday, but he did express that the lifting of the sanctions had opened the country to foreign investment—even to Americans, and that events promised the Iranian people a new future.

The US released seven Iranians held on charges of violating sanctions as part of the prisoner exchange and annulled international arrest warrants on 14 others.

The exchange brought back emotional memories of events between the countries, a legacy of distrust and the American hostage crisis in Tehran, wherein 52 Americans were held for a grueling 444 days.