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What You Need To Know About The Deal That Was Struck With Iran

CREDIT: AP

After more than a decade of negotiations, Iran and world powers have reached a deal over Iran’s nuclear capabilities.

Here are the main points you need to know:

  • As Iran shows compliance with the terms of the agreement, sanctions will be lifted by the U.S., EU, and the United Nations, releasing $100 billion in frozen Iranian assets. A mechanism is also in place should Iran violate the deal that would put sanctions back in place over a period of 65 days.
  • In exchange, Iran has agreed to curb the amount of time they can produce a nuclear weapon from a few months to over ten years.
  • Iran said it will not enrich uranium over 3.67 percent for at least 15 years and will sell or dilute all uranium under its possession that is already enriched.
  • UN inspectors can demand access to nuclear facilities on Iranian military sites, though not immediately. A predetermined joint commission — made up of one member from each negotiating side – will then have to approve the inspection.
  • Five years from now, Iran will be allowed to buy and sell conventional arms on the international market.
  • Eight years from now, Iran can buy and sell ballistic missiles.
  • Congress has 60 days to approve or disapprove of the deal. President Obama can (and has already said he will) veto the disapproval unless Congress overrides the veto.

You can read the full text of the deal here.

UPDATE JUL 14, 2015 3:27 PM

The original post indicated that lifting sanctions would provide Iran with $100 million in frozen assets. The actual figure is $100 billion.

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