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Iran, Word Powers Concluded Decadelong Nuke Talks

Tuesday 14 July 2015
Iran, Word Powers Concluded Decadelong Nuke Talks

alwaght - After around twelve years of negotiations, Islamic republic of Iran and the so-called major world powers, at the time being known as P5+1, reached an agreement on the Iran's civilian nuclear program.

The till now elusive agreement was finally pinned down on Tuesday in the ritzy in the Austrian capital of Vienna, where more than 700 correspondents from different media outlasts have been waiting to wire the news of negotiations between Iran and the six other countries.

Last round of negotiations took more than two weeks to work out the remaining technical and political issues.

The agreement, the Joint Comprehensive Plan of Action (JCPOA), will, be presented to the United Nations Security Council (UNSC), which will adopt a resolution in maximum 10 days to make the JCPOA an official document.

Under the deal, , in which  P5+1 has recognize Iran’s civilian nuclear program, including the country’s right to the complete nuclear cycle, sanctions imposed by the US, European Union and United Nations would be lifted at once under a mutually agreed framework and through a new UN resolution.

Iran, for its part, has agreed on some curbs on its nuclear.

None of the Iranian nuclear facilities will be dismantled or decomissioned.

Furthermore, nuclear research and development activities on all types of centrifuges, including advanced IR-6 and IR-8 machines, will continue.

The nuclear-related economic and financial restrictions imposed by the United States and the European Union (EU) targeting the Iranian banking, financial, oil, gas, petrochemical, trade, insurance and transport sectors will at once be annulled with the beginning of the implementation of the agreement.

The arms embargo imposed against the Islamic Republic will be annulled and replaced with certain restrictions. A U.N. weapons embargo would be removed after five years and a ban on buying missile technology would be terminated after eight years .

 Additionally, tens of billions of dollars in Iranian revenue frozen in foreign banks will be unblocked.

A total of 800 natural persons and legal entities, including the Central Bank of Iran (CBI), the Islamic Republic of Iran Shipping Lines and the National Iranian Oil Company (NIOC), will be taken off sanctions lists.

 

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