Iran and P5+1 Group of Nations clinched Nuclear Deal

Nov 24, 2013 17:00 IST

Iran and P5+1 groupIran and P5+1 group of Nations reached a breakthrough deal on 24 November 2013 to curb Iran's nuclear programme in exchange for limited sanctions relief.

An agreement to this effect was signed at UN Headquarters in Geneva on 24 November 2013 between the Chief negotiator for the six nations, Catherine Marie Ashton and Iranian Foreign Minister Mohammad Jawad Zarief.

The interim deal for six months is intended to give time and space to the international community to work towards a comprehensive agreement. After four days of negotiations, representatives of P5+1 group of nations - the US, the UK, Russia, China, France and Germany - reached an agreement with Iran.

The deal is intended as the first step in a six-month process aimed at a permanent resolution to the decade-old global impasse over Iran’s nuclear programme, and heading off the threat of a new war in West Asia.

The Geneva deal also makes the way for releasing over 4 billion Dollars in Iranian oil sales revenue from frozen accounts, and suspends restrictions on the country’s trade in gold, petrochemicals, and car and plane parts.

In return, Iran undertakes to restrict its nuclear activities. Over the next six months Iran has agreed to:

1. Stop enriching uranium above 5 per cent, reactor-grade, and dilute its stock of 20 per cent-enriched uranium or convert it to oxide, which makes it harder to enrich further.

2. Not to increase its stockpile of low-enrichment uranium.

3. Freeze its enrichment capacity by not installing any more centrifuges, leaving more than half of its existing 16000 centrifuges inoperable.

4. Not to fuel or to commission the heavy-water reactor it is building in Arak or build a reprocessing plant that could produce plutonium from the spent fuel.

5. Iran will give greater access to inspectors including daily access at the Natanz and Fordo nuclear sites.

In return, there will be no new nuclear-related sanctions for six months if Iran sticks by the accord.

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Read more Current Affairs on: P5+1 group of Nations , Iran's Nuclear Programme

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