According to the reports released by press on Sunday, Iran and Western powers have reached to an agreement about the nuclear program of Iran. According to the agreement, Iran and Western powers have settled down on certain issues in this regard, while the further details of the agreement are yet to be released.
The agreement will ease the stiff and painful economic sanctions on Iran while at the same time; the country will be able to collect almost seven billion dollars of revenue from petroleum products and precious stones that were stopped as part of the sanctions imposed by the United States and European countries.
The deal came after 4 days long negotiations in Geneva between the foreign ministers of Iran, United States, China, Germany, England, Russia and France. The meeting was chaired by the top European Union diplomat Catherine Ashton. This meeting was the third of its kind in Geneva in which first two were fruitless but all the stakeholders had agreed to continue the talks. The series of negotiations started after the Hassan Rouhani became the president of Iran in this year’s general elections and vowed to bring betterment between the relations of Iran and Western powers.
The agreement is to last for six months during which these powers will sit again so that a comprehensive deal should be inked between the two sides and a permanent solution should be sought for the problem.
Iranian President, Hassan Rouhani, US president Barack Obama, UN Secretary General, Ban Ki Moon and many other leaders of the world have lauded this ‘first step deal’ and termed it as a critical step towards the peaceful and lasting resolution of the issue.
The deal has immediately shown its positive effects on different international stock markets and it would definitely ease the economic pressure that had surmounted on the economy and people of Iran.
The White House has released the details of the agreement according to which Islamic Republic has committed to halt its Uranium enrichment above 5 percent and also to neutralize its stockpile of near-20 percent enriched Uranium. Iran has also committed to halt its progress on Uranium enrichment capacity and will halt work on its Plutonium reactor and provide access to the nuclear inspectors. But the White House has made it clear that if Iran failed to keep up with promises, the sanctions will be reversed and even more strict sanctions will be imposed on her.
While the ‘first step’ deal is currently set to last for a period of just six months, it has provided a massive sense of relief on all sides in Geneva as it is expected to make Iran less capable of building a nuclear bomb for the time being, while at the same time easing the financial pain Iran’s economy is enduring under the sanctions. Perhaps most significantly, it also makes a final comprehensive nuclear agreement between Iran and the world more possible.