Iran and the P5+1 have agreed on a deal that would curtail Iran's nuclear program in exchange for the lifting of some international sanctions. This deal is considered an initial phase and would last for six months. Iran will be allowed to continue producing low-enriched uranium suitable for energy generation and will not be required to send its nuclear byproduct material out of the country. Sanctions on the use of gold and other precious metals in trading will be lifted as will sanctions on insurance and the transportation industry. Iran insists it has the right to enrich uranium but has agreed to:
- Stop producing medium-grade uranium and neutralize stocks of medium-grade uranium on hand
- Limit its stockpile of low-enriched uranium
- Cease development of new centrifuges
- Halt progress at nuclear facilities at Fordow and Natanz and the partially built heavy-water reactor at Arak
- Allow international inspections to monitor the above restrictions
In return, Iran will reap $7 billion dollars of sanctions relief
- Stop producing medium-grade uranium and neutralize stocks of medium-grade uranium on hand
- Limit its stockpile of low-enriched uranium
- Cease development of new centrifuges
- Halt progress at nuclear facilities at Fordow and Natanz and the partially built heavy-water reactor at Arak
- Allow international inspections to monitor the above restrictions
In return, Iran will reap $7 billion dollars of sanctions relief
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