Iran Could See Economy Restored if it Meets Commitments

By Jéan-Claude Quintyne

Earlier this month, President Obama announced that the framework of an agreement to prevent Iran from getting a nuclear weapon had been put into motion.

From that point until June, the United States–with tireless efforts from Secretary of State John Kerry–and five world powers will be negotiating with Iran to get the final settlement wrapped up and signed.

Specifics of the deal suggest that the sanctions currently on Iran would be suspended. They will be resumed should Iran break the agreement.

Essentially, the deal features the halting of Iran’s nuclear program consisting of heavy monitoring of its nuclear program that features visits from IAEA inspectors to the Natanz and Forto enrichment sites daily, and the Arak nuclear facility reactor monthly.

More pointed sanctions target the specifics of the production of a nuclear bomb, essentially setting things up to stop the process from the very beginning.

Restrictions would be placed on each of its nuclear installations, preventing construction of additional enrichment facilities.

Production of near-20 percent enriched uranium would be halted, half of near-20 percent enriched uranium that’s in hexaflouride form would be diluted and converted to oxide, which will render it useless, and centrifuge production needed to replace damaged machines would be limited.

Iran would also have to agree to a cap on its five percent enriched uranium stockpile and not commission or fuel its Arak nuclear plant heavy-water reactor.

The world powers proposing this deal with Iran is the “P5+1” (U.S., United Kingdom, China, Russia, and France plus Germany.

Amongst meticulously making sure that Iran meets its committments, the P5+1’s responsibilites include not imposing further nuclear-related sanctions, transfering $4.2 billion to Iran in installments, and will suspend the implementation of sanctions on Iran’s imports of goods and services for its automotive manufacturing sector.

The world powers will also facilitate the establishment of financial channel to support humanitarian trade that’s already permitted with Iran and facilitate payments for United Nation obligations and give attention to tuition payments for students studying abroad.

A controversial sanction that the world powers agree to lifting are the economic sanctions on Iran. Lifting them would boost Iran’s economy, improving collapsing oil prices and strengthening its ability to fund violence in the Middle East.

Another criticism of the deal suggests that Iran cheats. A few years after the sanctions currently in place were slapped on, Iran built a centrifuge facility under a mountain in Tehran. In spite of a deal being signed, it will still be widely believed that Iran isn’t being honest about its secret weapons work.

Secretary of State John Kerry, who with his team has led the negotiations, aims to reduce the possibility that Iran’s bomb program could set off a local atomic arms race.

The sanctions began when Iran’s nuclear program became public in 2002 and while Iran suggested its program is peaceful, the inability for world powers to verify this began the sanctions.

The sanctions crippled Iran’s economy, with focus on its financial and energy sectors

A block on arms imports, a ban on supply of heavy weaponry, and nuclear-related technology to Iran, were in the first wave of sanctions.

Restrictions on trade in equipment that could be used to enrich uranium and a freeze on a list of individuals suspected to aid in advancing Iran’s nuclear program were also key parts of the initial sanctions.