Final Agreement Coming On Curbing Iran’s Nuclear Program

Posted by: : Paul EbelingPosted on: April 2, 2015 Final Agreement Coming On Curbing Iran's Nuclear Program
 

Final Agreement Coming On Curbing Iran’s Nuclear Program

 Iran and Key world powers reached a framework on curbing Iran’s nuclear program at marathon talks in Switzerland Thursday that will allow further negotiations towards a final agreement.

Western and Iranian officials at the talks said they would conclude with a joint statement announcing that enough progress had been reached to allow further negotiations until a final deadline of 30 June.

“Agreement on framework for final agreement reached. Press conference following,” Germany’s foreign ministry said.

Iran’s Foreign Minister Javad Zarif tweeted: “Found solutions, ready to start drafting immediately”.

President Hasan Rouhani and phoned Mr. Zarif and chief negotiator Ali Akbar Salehi to thank them for their work.

It is not yet clear how much of the framework’s details would be officially announced.

The details are sensitive to both sides, especially Iran, which is worried about signing off on explicit targets to curb its nuclear program in the absence of a final settlement that would see economic sanctions lifted.

The sides agreed that the comprehensive settlement would require Iran to dilute or ship abroad most of its stocks of enriched uranium, and suspend 66% of the 19,000 centrifuges it operates for enrichment. It will be monitored for 10 yrs.

The deal wraps up 8 days of marathon talks, extended after a deadline of Midnight Tuesday, aiming to achieve a political agreement that could serve as the basis for a final deal by 30 June.

Iran wants to preserve what it says is its right to peaceful nuclear technology, while lifting painful international sanctions that have hurt its economy.

The talks are the biggest opportunity for detente between Washington and Tehran since they became enemies after Iran’s Y 1979 revolution, but any deal faces skepticism from conservatives in both countries.

US allies in the Middle East are also skeptical, especially Israel and Saudi Arabia.

US President Barack Hussein Obama said on TV Thursday, he wants this deal to happen and is inviting the leaders of the GCC countries to Camp David for a ‘Pow Wow.’

Stay tuned…

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Paul Ebeling

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Paul Ebeling

Pattern Recognition Analyst, equities, commodities, forex
Paul Ebeling is best known for his work as writer and publisher of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly-regarded, weekly financial market letter, where he enjoys an international audience among opinion makers, business leaders, and respected organizations. Something of a pioneer in online stock market and commodities discussion and analysis, Ebeling has been online since 1994. He has studied and worked in the global financial and stock markets since 1984.

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