Iran Nuclear Accord With UN World Powers To Be Adopted On 18 October
United Nations investigators are set Thursday to end their probe into Iran’s nuclear history, taking the next step toward the lifting of Crude Oil and financial sanctions imposed on Iran.
International Atomic Energy Agency (IAEA) monitors have until 15 October to collect information and question Iranian authorities about possible military dimensions of past nuclear activities, according to the 14 July agreement between Iran and the IAEA. Inspectors will then have until 15 December to draft and present a final assessment of their inquiry.
Iran’s nuclear work has been the focus of IAEA scrutiny since February 2003, when Iranian officials told inspectors visiting Tehran of their plans to begin enriching uranium on an industrial scale.
Concluding the IAEA investigation will set the stage for the broader deal between Iran and world powers to enter into force on 18 October, dubbed “Adoption Day,” when both sides begin implementing their commitments. The US and Europe have pledged to draft legislation lifting financial and energy sanctions.
In Iran, engineers and technicians will begin mothballing centrifuges at the Natanz and Fordo enrichment facilities as well as retrofitting a heavy-water reactor in Arak.
They will also need to reduce their stockpile of enriched Uranium by more than 95% before sanctions relief takes effect.
Sanctions against Iran will probably be lifted within the 1st 3 months of Y 2016, after the IAEA has confirmed the nation has curtailed its nuclear work, diplomats said last month.
Once the restrictions are removed, relief is expected to fuel economic growth in the country of 80-M n people by lowering barriers to Iran’s Crude Oil exports and ending the isolation of its banks.
Wednesday, Iran’s 12-member Guardian Council, which needs to approve passage of all legislation, endorsed implementation of the nuclear deal. Parliamentarians in Iran’s Majlis, or Parliament, had approved the agreement earlier this week.
- 18 October — “Adoption Day” for July accord signed with world powers. Parties to the agreement begin meeting their commitments.
- 30 November — Iran prepares to end testing of advanced centrifuge cascades and store machines under IAEA seal.
- 15 December — IAEA to present its assessment of Iran’s past nuclear activities, which board will use “with a view to closing the issue.”
- Late 2015-early 2016 — Crude Oil sanctions to be lifted on “Implementation Day.” US officials have suggested it will take at least 2 months from “Adoption Day” to reach this point.
Stay tuned…
HeffX-LTN
Paul Ebeling
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