By Abraham Shanedling
The United States and five
other world powers announced late Saturday night that they had reached an
agreement with Iran that would temporarily freeze much of Iran’s nuclear
program in return for $6 to $7 billion in sanctions relief.
The full text of the agreement,
which is to last six months, can be found here.
Although the agreement requires
Iran to stop enriching uranium beyond 5 percent, the deal does not require
Iran to completely cease enrichment, including to low levels of 3.5 percent or
to dismantle any of its existing centrifuges.
Appearing on live television
shortly after the announcement of the deal, President Obama said the agreement
includes "substantial limitations that will help prevent Iran from
creating a nuclear weapon."
A White
House statement called the nuclear agreement an "initial,
six-month step," and noted that the accord includes limits on Iran's
ability to "produce weapons-grad plutonium" from its heavy water
reactor in Arak.
On
Sunday however, Israeli Prime Minister Benjamin Netanyahu, who has consistently
expressed his distrust with Iran, called the
agreement a "historic mistake," likening the agreement to
that reached with North Korea in 2005.
Meanwhile,
with the agreement in place, Congressional efforts to ratchet up sanctions will
now be on pause at least for the six-month window.
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