Iran and World Powers Reach Nuclear Deal
After almost a decade of negotiations, world powers have finally reached a deal with Iran concerning its nuclear activity.
The negotiations, starting way back in 2006, involve Iran and six world powers that have come to be known as P5+1: The US and UK, Russia, Germany, France, and China.
Ultimately, what the deal means is that Iran’s nuclear activity will be limited in return for the lifting of international economic sanctions that have prevented economic growth in the country for several years.
The world powers wanted ran to scale back its sensitive nuclear activities to ensure that it wouldn’t be able to build a nuclear weapon. But in exchange, Iran wanted the sanctions lift, having always insisted that its nuclear work was peaceful.
The sanctions will be relieved gradually, with embargos on arms and missiles remaining in place for five and eight years respectively. (An embargo means Iran is unable to trade in these things with other countries.)
US President Barack Obama is firmly backing the deal, believing that it cuts off every pathway to a nuclear weapon and insisting that it would make the world a safer and more secure place.
In fact, President Obama has said that he will veto any attempts to block the deal from going through – which are a possibility as the US Congress still has 60 days in which to consider the deal.
He explained that the deal would oblige Iran to remove two-thirds of its installed centrifuges and store them under international supervision. This country also needs to get rid of 98% of its enriched uranium.
On top of this, Iran would have to accept that the sanctions being listed could just as easily be snapped back into place if the deal is violated in any way. The IAEA (International Atomic Energy Agency) will also have permanent access “where necessary, when necessary”.
Iranian President Hassan Rouhani is also pleased with the arrangement, welcoming the deal as a fresh start for the country’s relations with the rest of the world.
“The sanctions regime was never successful, but at the same time, it affected people’s lives,” he pointed out.
Once certain sanctions have been lifted, the country could potentially double its oil exports, and expand the economy between 7% and 8% every year.
“I believe this is a historic moment,” declared Mohammad Javad Zarif, Iran’s Foreign Minister. “Today could have been the end of hope, but now we are starting a new chapter of hope.”