(Bloomberg) Iran, World Powers Have Reached Nuclear Agreement

Iran and six world powers sealed a historic accord to curb the Islamic Republic’s nuclear program in return for ending sanctions, capping two years of tough diplomacy with the biggest breakthrough in relations in decades.

Diplomats reached the agreement in Vienna in their 18th day of talks, officials involved in the negotiations said. A final meeting was scheduled to start at 10:30 a.m. local time.

The deal, if approved by the U.S. Congress, promises to end a 12-year standoff that has crippled Iran’s economy and drawn threats of military action from the U.S. and Israel. Full implementation would take months and be contingent on the pace at which Iran meets its obligations. It would enable the oil-rich nation to ramp up energy exports, access international funding and open its doors to global investors.

“This is probably going to go down in history as one of the biggest diplomatic successes of the century,” Ellie Geranmayeh, a policy fellow at the European Council of Foreign Relations, said by phone from London.

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5 comments on “(Bloomberg) Iran, World Powers Have Reached Nuclear Agreement

  1. Marie Blocher says:

    Now let them enforce it.

  2. Pb says:

    Peace in our time.

  3. Jim the Puritan says:

    Mission Accomplished

  4. Terry Tee says:

    To the cynics I would pose the question: what would satisfy you? I do not mean that question rhetorically. What would you regard as concrete, verifiable steps that would justify the lifting of sanctions? What we have here is a commitment to an internationally supervised process, by which Iran would renounce most of its nuclear weapons capability. Surely there is a gain here?

    There also seems to be a split in Iran between a younger, more open generation and an older one that clings to ancient myths and hostilities. The agreement opens the way for more contact with the former, and strengthens their hand. BTW if I remember correctly, immediately after 9/11 there were large demonstrations of sympathy for the U. S. in the streets of Iran – a change from the past with its outrageous violation of diplomatic norms when the U. S. Embassy was breached and its staff held hostage.

    This development will of course greatly unsettle Saudi Arabia.

    Will the treaty:
    (a) lead to greater pressure on ISIL; or
    (b) will it be a recruiting boost for ISIL?

    (a) Rolling back ISIL is possible because according to media reports the only real opposition to ISIL in northern Iraq has come from Shia militias.
    (As I am sure all readers are aware, Iran is the Shia champion, and ISIL is Sunni).
    (b) But stimulating more recruitment for ISIL is also possible because Sunni communities in the area, seeing Iran and Shia strengthened, may turn to ISIL asking it to be their protector.

  5. Katherine says:

    Terry Tee, there is gain only if one believes that Iran will actually cooperate with an internationally supervised process and actually renounce most of its nuclear weapons capability. Personally, I don’t believe they’ll do either.

    Many analysts think this agreement will set off an arms race in the Middle East as Sunni powers react to the Shia threat.