+

Cookies on the Business Insider India website

Business Insider India has updated its Privacy and Cookie policy. We use cookies to ensure that we give you the better experience on our website. If you continue without changing your settings, we\'ll assume that you are happy to receive all cookies on the Business Insider India website. However, you can change your cookie setting at any time by clicking on our Cookie Policy at any time. You can also see our Privacy Policy.

Close
HomeQuizzoneWhatsappShare Flash Reads
 

The US and Iran have reportedly reached a framework nuclear deal

Apr 2, 2015, 21:52 IST

Reuters/Ruben SprichIran's Foreign Minister Javad Zarif addresses during a joint statement with EU foreign policy chief Federica Mogherini in Lausanne April 2, 2015. A framework deal has been reached on Iran's nuclear program.

Advertisement

Iran got a lot of what it wanted. Tehran will get most sanctions lifted on the front-end of any deal, which will only last 10 years and won't obligate Iran to close or dismantle any nuclear facilities.

On the other hand, the US got an agreement that paves the way for a deal that would resolve the Iranian nuclear issue. The US and its partners are also confident, under the framework they've negotiated, that Iran would not be able to build a single nuclear weapon undetected in a one-year span.

Here are details of the provisions of the agreement as announced by EU high representative Federica Mogherini and Iranian Foreign Minister Javad Zarif during a press conference in Lausanne, Switzerland.

  • The US and its partners agreed to immediately lift all sanctions on Iran's banking and oil sectors once a comprehensive agreement is signed, according to Iranian foreign minister Javad Zarif.
  • Iran will reportedly cut back its uranium enrichment capacity by 2/3rds, meaning Tehran will be allowed to keep operating around 5,000 uranium enrichment centrifuges, according to Reuters.
  • The deal will reportedly last 10 years and will also require Iran to dilute most of its enriched uranium or ship it to a foreign country, according to Reuters.
  • The agreement won't require Iran to shutter or dismantle any of its existing nuclear facilities. 
  • Iran will only be allowed to enrich uranium at Natanz.
  • The subterranean Fordow facility will remain open as a research and nuclear physics lab. No fissile material will be allowed there, but Zarif noted that there will still be centrifuges at the underground facility.
  • The heavy water reactor at Arak will also be modified under international supervision and spent fuel will be exported. Iran will not be allowed to reprocess plutonium from the reactor.
  • All sanctions related to the nuclear program will be removed, and the agreement will be endorsed by a UN Security Council resolution that would supersede all previous UNSC measures on the Iranian nuclear program. All of the financial and banking sanctions would be eased on the front end of the agreement. 
  • Iran agreed to allow inspectors into the Parchin military facility.
  • There has been no mention so far of Iran being obligated to close or dismantle any nuclear facility or of the length of the deal. 
  • Also, no announcement has been made so far on whether Iran will have to ship any of its enriched uranium out of the country.

Importantly, this deal is only a "framework agreement" - a final deal must be reached before June 30th, when the November 2013 Joint Plan of Action expires. 

Advertisement

Secretary of State John Kerry tweeted that this is a "big day," and that the two sides "have parameters to resolve major issues on nuclear program."

The most controversial part of the deal is the immediately lifting of sanctions. Mark Dubowitz, the executive director of the Foundation for Defense of Democracies, couldn't believe it.

 

 

The talks leading up to this point have been the longest US negotiating session on foreign soil since 1919, a 7-day marathon round in Lausanne, Switzerland that included multiple all-nighters. 

Iranian president Hassan Rouhani tweeted the afternoon of April 2nd that "solutions on key parameters" have been reached and that drafting would begin immediately on a final deal.

Iranian Foreign Minister Javad Zarif tweeted that the sides had "found solutions" and were "ready to start drafting immediately." Germany's Foreign Ministry also tweeted that an "agreement on a framework for final agreement reached."

NOW WATCH: Animated map of what Earth would look like if all the ice melted

Please enable Javascript to watch this video
You are subscribed to notifications!
Looks like you've blocked notifications!
Next Article