With the adoption of the resolution at the UN, the 15-nation body endorsed the landmark nuclear deal entered into between Iran and P5+1 nations of China, France, Russia, the United Kingdom and the United States, plus Germany last week.
The agreement launches a progressive and conditional lifting of sanctions, in exchange for guarantees that the Islamic republic will not develop a nuclear bomb.
Welcoming the adaptation of the resolution, UN Secretary-General Ban Ki-moon said it will ensure the enforcement of the Joint Comprehensive Plan of Action on Iran's nuclear programme.
"It establishes procedures that will facilitate the JCPOA's implementation, enabling all States to carry out their obligations contained in the agreement.
"The resolution provides for the eventual removal of all nuclear-related sanctions against Iran. It guarantees that the International Atomic Energy Agency will continue to verify Iran's compliance with its nuclear-related commitments under the JCPOA," the UN chief said as he assured full assistance of the world body in giving effect to the resolution.
The resolution, however, has the provision of snapping back the sanctions if Iran does not abide by its commitments.
"While this deal does not address many of our profound concerns, if implemented it would make the world safer and more secure," the US' Ambassador to the U N Samantha Power said at the UNSC meeting.
"If Iran seizes that opportunity, if it abides by the commitments that it agreed to in this deal...then it will find the international community and the United States willing to provide a path out of isolation and toward greater engagement," she added.
"We hope Iran's government will chose that path," Power said, adding the deal would cut off all pathways for Iran to obtain a nuclear weapon, "While putting in place a rigorous inspection and transparency regime to verify Iran's compliance."
In exchange, the US and other countries around the globe would begin to roll back sanctions on Iran's financial and oil sector, which have had a severe toll on the country's economy.
The restrictions would begin to be lifted in 90 days.
"90 days from today, when our respective capitals and legislatures have had a time to review the deal's provisions, the provisions within the JCPOA will take effect," Power said.
New Zealand's Minister of Foreign Affairs, Murray McCully said by the adoption of the resolution, "We give international legal force to the agreement reached in Vienna, and extend the obligations it contains across the broader UN membership."
The agreement with Iran, if fully implemented, provides a comprehensive and long term solution to the Iran nuclear issue.
"The truly historic agreement reached in Vienna represents a triumph of diplomacy and cooperation, over confrontation and mistrust," he said, adding that it is now crucial to ensure the agreement is fully and swiftly implemented, and that small mis-steps and misunderstandings are not allowed to derail the process.
"We urge all parties to approach this task with the same constructive intent that has led to this agreement and we encourage Iran to act swiftly to implement all transparency measures and allow the IAEA access to the relevant sites," he said.
Representatives from the P5+1 powers and Iran had signed the historic agreement last week to limit Tehran's nuclear programme after years of negotiations and extensive talks.
The agreement will now go to the US Congress for a 60-day review period. President Barack Obama has vowed to veto any legislation that would move to block the implementation of the nuclear deal.
The deal would ease economic sanctions against Iran in exchange for measures that will curb the country's nuclear development for more than a decade.
The deal also calls for limiting Iran's level of enriched uranium below weapons grade and is expected reduce the number of Iran's installed centrifuges by thousands.
Following the Security Council meeting, Israel's ambassador to the UN, Ron Prosor told reporters that passage of the UNSC resolution marks a "sad day" and a "grave strategic error" for the international community as it is taking steps to lift the sanctions on Iran without first waiting to see if Tehran complies with even a single obligation in the agreement.
"Today, you have awarded a great prize to the most dangerous country in the world. I hate to be the one who spoils the party, but someone has to say that the emperor has no clothes. Today is a very sad day.
"Not only for the state of Israel, but for the entire world, even if at this moment, the international community refuses to see the tragedy," Prosor said.
He said the nuclear agreement gives Iran a seat on the commission which will decide whether or not it has violated the agreement.
"This is like allowing a criminal to sit on the jury which will decide his fate. You have not changed Iran's destructive ideology, which goes beyond proliferating deadly weapons and funding terror.
"It is not only that you have not cured the symptoms, you have strengthened the source of the problem. You have given the source of the problem - Iran - money, stability at home, and time to carry out its destructive ideology," Prosor added.
The Israeli envoy lambasted the international community for its "bad track record" in curtailing impending disasters, "even when it is right in front of your eyes" as he cited the Arab Spring and the case of North Korea.
With the deal, Prosor said Iran will now have USD 150 billion to "fund terror groups".
"I would like to say that the Iranians are metaphorically laughing in everyone's face, but the sad part is that this time it is not a metaphor. When the villain is laughing, you know something is wrong.
"When we hear laughter from a country whose Supreme Leader, Ayatollah Khamenei, says that even after the agreement is signed, Iran will continue the battle against the United States, Iran will continue supporting terrorists in the Middle East and around the world -- something is wrong," he said.
He voiced concern that Israel and other nations will "pay the price" of the lifting of sanctions against Iran.
"In future years, the consequences of this mistake will become clear to all, but for Israel, tomorrow is already too late," he said.
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