Iranian President Hassan Rouhani hailed a nuclear deal with world powers as a "golden page" in Iran's history, and looked forward to an economic future less dependent on oil as the country emerges from years of sanctions and isolation.

Iran ended years of economic isolation when world powers lifted the crippling sanctions against the Islamic Republic yesterday in return for Tehran complying with a deal to curb its nuclear ambitions.

Presenting the draft budget for the next Iranian fiscal year, which begins in March, Rouhani told parliament the deal was a "turning point" for the economy of Iran, a major oil producer which has been virtually shut out of international markets for the past five years.

"The nuclear talks accomplished and resulted with guidance of the Supreme Leader of the revolution, the support of the nation, and companionship of all pillars of the state, is truly one of the golden pages of the history of this country," Rouhani said.

Tens of billions of dollars' worth of Iranian assets will now be unfrozen and global companies that have been barred from doing business there will be able to exploit a market hungry for everything from automobiles to airplane parts.

"The JCPOA (nuclear deal) is only an atmosphere. The JCPOA is only new conditions. We should use this atmosphere and these conditions for the sake of growth and development of our country, and for the sake of the welfare of the people, for the progress of our country, and also for the progress, stability, and security of the region," Rouhani said.

The end of sanctions means more money and prestige for Shi'ite Muslim Iran as it becomes deeply embroiled in the sectarian conflicts of the Middle East, notably in the Syrian civil war where its allies are facing Sunni Muslim rebels.

It is also a crowning achievement for Rouhani, a pragmatic cleric elected in 2013 in a landslide on a promise to reduce Iran's international isolation.