Reuters: In the second phase, the lifting of oil sanctions on Iran

The draft US-Iran agreement, which will revive the second international nuclear convention in 2015, initially provides for phases of reciprocity for both sides, which, if observed, would mean the gradual lifting of US sanctions on Tehran oil.

In particular, as reported by Reuters, the representatives of the states participating in the talks say that much of the text has been settled, but some thorny issues remain.

The main goal is to return to a form of the original 2015 agreement, which included lifting some of the then existing restrictions on Iran’s oil sales, in exchange for curbing its nuclear activities.

It is recalled that a key point of the 2015 agreement was the limitation of uranium enrichment by Tehran to 3.67%. However, the United States withdrew from the agreement in 2018, alleging violations by Iran, which has since reduced uranium enrichment to 60%, on the verge of nuclear weapons, according to Reuters.

Iran insists its goals are entirely peaceful and that it wants to develop nuclear technology for economic purposes. However, Western powers argue that no other state is enriching at such high levels without developing nuclear weapons.

As for where the talks are today, Reuters reports that the draft text of the new agreement, which exceeds 20 pages, sets out a series of steps that must be implemented once approved by the other parties.

The first phase involves reducing Iran’s enrichment to 5%, according to three diplomats familiar with the negotiations, cited by Reuters.

The text goes on to predict the release of about $ 7 billion in Iranian funds tied to South Korean banks, as well as the release of Western detainees in Iran, which US chief negotiator Robert Malley says is a condition of the deal. .

Only when the fulfillment of these measures is confirmed will the main phase of lifting the sanctions begin, which the diplomats call “Re-implementation Day”, referring to the 2015 agreement.

The duration of these phases has not yet been agreed and the text does not include the number of days until “Re-implementation Day”, diplomats say, while some officials estimate this time between one and three months.

Should this happen, like the original agreement, the new one provides for the gradual lifting of US oil sanctions, with waivers that will require renewal every few months.

Source: Capital

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