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January 13, 2014

Iran Nuclear Deal to Take Effect With Sanctions Relief 
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Iran's interim nuclear deal will take effect a week from today after
being finalized with six world powers, including the United States. The
two sides agreed to a timeline for implementation on Sunday after
reaching the agreement in November. Iran will receive partial sanctions
relief in return for slowing nuclear operations and capping uranium
enrichment at five percent. Speaking in Paris, Secretary of State John
Kerry said the ensuing talks to reach a final agreement will be a far
greater challenge.

Secretary of State John Kerry: "We are very clear-eyed about the even
greater challenges that we face negotiating a comprehensive agreement.
We understand it is going to be a tough negotiation and we are very
clear about what will be required in order to be able to guarantee to
the international community that this is a peaceful program. The
negotiations will be very difficult, but they are the best chance we
have to be able to resolve critical national security issues peacefully
and durably."

As part of the agreement, Iran will receive sanctions relief worth up to
$7 billion. An initial installment of $550 million in frozen oil revenue
will be released next month.

 

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