Study Material | Test Series
Drishti IAS
call1800-121-6260 / 011-47532596
Drishti The Vision Foundation
(A unit of VDK Eduventures Pvt. Ltd.)
prelims Test Series 2019
बेसिक इंग्लिश का दूसरा सत्र (कक्षा प्रारंभ : 22 अक्तूबर, शाम 3:30 से 5:30)
Iran and P5+1 signed deal on nuclear issue
Nov 25, 2013

The six world powers and Iran have reached on an interim agreement that calls on Tehran to limit its nuclear activities in return for sanctions relief.

The pact include a halt of 20 percent enrichment, continue enrichment at 3.5 percent, and $4.2 billion in Iranian assets will be unfrozen, along with unspecified easing to sanctions. 

The interim agreement will last for six-month, this time period is intended to be used to negotiate a comprehensive and permanent settlement that would allow Iran to pursue a peaceful programme, almost certainly including enrichment, but under long-term limits and intrusive monitoring, that would reassure the world that any parallel covert programme would be spotted and stopped well before Tehran could make a bomb.

In addition, Iran agreed to convert its stockpile of 200 kilograms of 20 percent enriched uranium into gas or fuel rods – a move that would prevent it from later being enriched to higher levels. Iran also agreed not to expand its enrichment capacity by installing additional centrifuges or operating the "next generation" centrifuges, which have already been installed.

The agreement would lead to the lifting of the main sanctions on oil and banking that have all but crippled the Iranian economy, and the eventual normalisation of relations between Iran and the U.S. for the first time since the 1979 Islamic revolution.

As for the country's frozen assets, Iran will receive $4.2 billion from proceeds of oil sales in installments, if conditions of the agreement are fulfilled. In addition, a further $400 million will be made available to fund the studies of Iranian students abroad. Altogether, around $6.1 billion of assets will be unfrozen over the next six months.

The main sanctions on Iran's oil trade, estimated at around $4 billion a month, and on Iran's banking system will not be lifted until a final deal will be reached. If Iran adheres to the terms of the agreement, no new sanctions will be put in place in the next six months.

 

 


Helpline Number : 87501 87501
To Subscribe Newsletter and Get Updates.

http://www.drishtiias.com/upsc-current-affairs-article-Iran-and-P51-signed-deal-on-nuclear-issue