Iran seals nuclear deal with west in return for sanctions reliefSubmitted by Apple on Sun, 11/24/2013 - 09:27
Iran has struck a historic agreement with the US and five other world powers, accepting strict constraints on its nuclear programme for the first time in a decade in exchange for partial relief from sanctions.
The deal, signed at 4.30am on Sunday morning, marks arguably the most significant foreign policy achievement of Barack Obama's presidency, amounting to the most significant agreement between Washington and Tehran since the 1979 Iranian revolution.
The move is intended as the first step in a six-month process aimed at a permanent resolution to the decade-old global impasse over Iran's nuclear programme, and heading off the threat of a new war in the Middle East.
"While today's announcement is just a first step, it achieves a great deal," President Obama said in an address to the nation from the White House. "For the first time in nearly a decade, we have halted the progress of the Iranian nuclear programme, and key parts of the programme will be rolled back."
The Geneva deal releases just over $4bn in Iranian oil sales revenue from frozen accounts, and suspends restrictions on the country's trade in gold, petrochemicals, car and plane parts.