Iran and six world powers — the U.S., Britain, Germany, France, Russia and China — have reached a technical understanding to begin implementing an agreement to rollback Iran's nuclear program.
The deal, coordinated by the European Union, aims to reassure the international community that Iran is not trying to develop a nuclear weapon. In exchange, Iran will see a six-month suspension in sanctions that have crippled its economy. During that period, negotiators will work to craft a comprehensive, final agreement.
The White House released details of the deal, reached earlier this month, on Thursday:
What Iran has committed to do:
—Halt production of near 20 percent enriched uranium and disable the centrifuge process used to produce it.
—Start neutralizing its near 20 percent enriched uranium stockpile.
—Refrain from enriching uranium in nearly half of the installed centrifuges at its Natanz site and three-quarters of installed centrifuges at its Fordow site.
—Limit centrifuge production to what's needed to replace damaged machines.
—Refrain from building additional enrichment facilities or advancing research and development of enrichment.
—Refrain from commissioning, fueling or adding reactor components to its Arak reactor, and halt the production and additional testing of fuel for the reactor.
—Refrain from building a facility capable of reprocessing, which would allow Iran to separate out plutonium, which could be used to make nuclear bombs.
If Iran keeps its end of the bargain, the six nations and the EU have committed to:
—Suspend implementation of sanctions on Iran's petrochemical exports and sanctions on goods imported for use in its automotive industry.
—Suspend sanctions on Iran's import and export of gold and other precious metals.
—Pause efforts to further curtail Iranian crude oil purchases by six economies.
—Free up Iranian money to help pay the educational costs of young Iranians, many of whom are attending U.S. colleges and universities.
—Raises tenfold the ceilings for money transfers to and from Iran.
—Take actions to ease Iran's access to $4.2 billion in restricted Iranian funds in several installments.