( CNN ) -- In what is being called a `` milestone '' for Iraq 's future , the U.N. Security Council voted Wednesday to free the Baghdad government from sanctions that started during the Saddam Hussein era . `` The adoptions of these important resolutions marks the beginning of the end of the sanctions regime and restrictions on Iraq 's sovereignty , independence and recovery , '' Iraqi Foreign Minister Hoshyar Zebari told the council . `` Our people will rejoice for having turned a chapter on the aggressive , belligerent and defiant behavior of the previous regime toward international law and legitimacy . '' One resolution ends the oil-for-food program and another ends sanctions relating to weapons of mass destruction . A third ends the Iraqi Development Fund as of June 30 . The move is a major step for Iraq toward regaining full sovereignty and improving its standing in the international community . The country will be able to have free and unrestricted international financial and trade dealings and to handle its own oil revenues . And it will be able to start a civilian nuclear power program if it is interested . U.S. Vice President Joe Biden , who chaired the Security Council meeting Wednesday , praised Iraq 's progress toward democracy and meeting its international obligations . Biden issued a statement saying the `` Security Council welcomes the positive developments in Iraq , '' including its forging of democracy , its development , and the performance of security forces . `` Politics has emerged as the dominant means for settling differences and advancing interests , '' Biden said . U.N. Secretary-General Ban Ki-moon called the development a `` milestone . '' `` Its people have known tremendous hardship , '' he said . `` They continue to struggle with insecurity and appalling violence . They lack jobs and basic services . But today we recognize how far the country has come in key aspects of its journey to normalize its status in the community of nations . '' Iraq invaded Kuwait in 1990 , triggering the Gulf War . In 2003 , the United States led an invasion of Iraq , citing Saddam Hussein 's weapons of mass destruction activities as one of the reasons . But , none of those weapons were discovered . While Wednesday 's vote ends sanctions imposed on Iraq from the days of the Hussein regime , other differences remain between Iraq and Kuwait . Zebari said Iraq is committed to settling those unresolved issues bilaterally with Kuwait and his country is `` committed to fulfill its remaining obligations '' under Chapter 7 of the U.N. sanctions . `` Iraq still has some way to go to resolve all outstanding issues with brotherly , neighborly Kuwait , '' he said . `` There has been positive cooperation and exchange between our two governments to resolve and settle all pending issues between our two countries , emanating from Saddam Hussein 's aggression and invasion of Kuwait in 1990 . '' Unresolved issues include demarcation of the Iraqi-Kuwait border and efforts to locate missing Kuwaitis and third-party nationals , and continuing to pay war reparations .
The sanctions were imposed during the Saddam Hussein era . The oil-for-food program ends , as does the Iraqi Development Fund . Joe Biden chaired the U.N. Security Council meeting .