A tentative deal between the US and Iran will allow Iran to reopen the Strait of Hormuz and sell its oil without restrictions. The accord, due to be signed in Switzerland, also envisions Iran receiving at least $300 billion to rebuild after the war and says the US would work to end all American and United Nations sanctions imposed on Tehran.
Deal Details
The deal provides a major win for the global economy, as the reopening of the Strait of Hormuz will restore the flow of oil and natural gas. The US will also lift a blockade imposed on Iranian ports, and the strait will return to its prewar traffic levels in 30 days.
The interim deal sets a 60-day window, which can be extended, to negotiate over limiting Iran’s nuclear program. Iran maintains its nuclear program is peaceful, though it has enough highly enriched uranium to build multiple atomic bombs, should it choose to do so.
The deal has been met with criticism, with some arguing that it offers too many concessions to Iran. The US agreement to immediately allow Iran to sell its oil freely and the offer to eventually lift all sanctions represent major concessions that outstrip the terms of Iran’s 2015 nuclear deal with world powers.
Original reporting: KTSA News/Talk (San Antonio) — read the source article.
