The terms Iran got are pretty strict and controlling so even though sanctions are lifted the West imposed other regulations and restrictions on Iran with monitoring up to 10 years and even some permanent monitoring. It's nothing people in Iran should go out into the streets and celebrate around, you still have a noose around your neck, it is just loosened up.
Iran will dismantle two-thirds of its 19,000 installed centrifuges. Those devices, which spin uranium into material that can be used for a nuclear weapon, will be stored under International Atomic Energy Agency oversight. Tehran will
be left with 6,104 centrifuges, lower than some reported offers by the U.S., and
5,060 of those can be used to enrich uranium.
—
Iran can keep open an underground nuclear facility at Fordow, a controversial site because it was built in secret and only revealed by the U.S. in 2009.
Iran will not be required to close the facility but could use it only for research that does not include the enrichment of uranium.
—
Rigorous transparency and inspection measures to ensure that Iran doesn’t cheat on any deal. They include granting the
IAEA intrusive access to Iran’s nuclear facilities and supply chain, including to its domestic uranium mines and mills. The inspections would continue even after many elements of the deal have expired in 2025, including surveillance of Iran’s centrifuge rotors until 2035. Iran has also agreed to some indefinite transparency measures.
—
In return for the limits on Iran’s program, the U.S. and EU will suspend sanctions after the IAEA has verified Iran’s compliance with the deal; those
sanctions can automatically “snap back” if Iran violates the agreement at any time. (Obama can temporarily suspend sanctions passed by Congress, although only Congress can permanently repeal them.) The United Nations will also lift its sanctions on Iran after it meets the deal’s requirements.
Read more:
Obama on Iran nuclear deal - POLITICO
Basically with Iran only being allowed to use 5,060 centrifuges to enrich uranium and 2/3 centrifuges being dismantled under inspection, it's nuclear program has been minimized.