Iran Nuclear Deal

      P+5 and Iran have reached an agreement on Iran’s nuclear programme.

      The deal marks an important shift in US-Iran relations on the back of expectations raised by President Hassan Rouhani.

REASONS

Iran has been crippled by economic sanctions imposed by the UN SC.

The US had also imposed separate sanctions.

Iran’s currency Rial has depreciated by more than 50% last year.

Unemployment has reached an all-time high level.

The prospect of an Arab Spring-like upheaval prompted the Iran regime to agree to the nuclear deal.

      PROVISIONS

      Iran has agreed to :

       Stop enrichment of uranium above 5% purity.

       Neutralize its stockpile of 20%-enriched uranium.

       Not install any more centrifuges.

       Leave most centrifuges in Natanz and Fordo inoperable

       Not build any more enrichment facilities

       Not increase its stockpile of 3.5% low-enriched uranium

       Halt work on heavy-water reactor at Arak

       Not to produce plutonium at Arak.

 Greater access to IAEA inspectors,  including daily access to Natanz and Fordo

 P+5 have agreed to :

 Transfer $7 bn to Iran in installments

      Avoid  further nuclear-related sanctions if Iran meets its commitments

      Suspend sanctions on trade in gold and precious metals, automotive sector, petrochemical exports

      Extend some concessions to Iranian airlines

      Transfer $7 bn to Iran in installments.

             The deal will remain valid for six months, during which a permanent deal will be sought.

 PROBLEM

The future of the deal will depend on the US Congress as it will have to ratify any agreement signed by the US.

           

Reaction

Most countries have welcomed the deal.

India has described the deal as an outcome of dialogue and diplomacy.

However, Israel has termed the deal a historic mistake. It has refused to accept the deal.

Saudi Arabia is opposed to the deal.