A nuclear agreement with Iran will become effective 90 days after it is confirmed by the UN Security Council. The nuclear agreement provides for lifting EU sanctions in banking operations, insurance, and the SWIFT payment system. The EU limits on imports of Iranian oil, gas and exports of EU extraction equipment to Iran will also be lifted.
The EU will lift economic and financial sanctions simultaneously with the IAEA verification of Iran fulfilling all agreed steps.
"The UN Security Council resolution endorsing this JCPOA will terminate all provisions of previous UN Security Council resolutions on the Iranian nuclear issue simultaneously with the IAEA-verified implementation of agreed nuclear-related measures by Iran," the draft says.
The new UN Security Council resolution on Iran will be in force for 10 years.
A nuclear agreement with Iran will become effective 90 days after it is confirmed by the UN Security Council.
"Adoption Day is the date 90 days after the endorsement of this JCPOA [Joint Comprehensive Plan of Action] by the UN Security Council, or such earlier date as may be determined by mutual consent of the JCPOA participants, at which time this JCPOA and the commitments in this JCPOA come into effect. UN Security Council resolution Termination Day is the date on which the UN Security Council resolution endorsing this JCPOA terminates according to its terms, which is to be 10 years from Adoption Day, provided that the provisions of previous resolutions have not been reinstated," the document says.
Iran is obliged not to produce weapon-grade plutonium at its Arak facility, while spent fuel should be removed by international mediators. New heavy water nuclear reactors must not be built in Iran for 15 years, with the surplus of heavy water to be accessible for sale. Tehran agreed not to enrich uranium over 3.67 percent for 15 years. Fordo has to be turned into a technological center, and its centrifuges will be used for the production of isotopes.
The redesigned and rebuilt Arak reactor will not produce weapons-grade plutonium. Except for the first core load, all of the activities for redesigning and manufacturing of the fuel assemblies for the redesigned reactor will be carried out in Iran. All spent fuel from Arak will be shipped out of Iran for the lifetime of the reactor," the draft says.
Iran will allow the IAEA to conduct monitoring for 25 years and will present all the necessary information for that timeframe.
"Iran will permit the IAEA to monitor so that all uranium ore concentrate produced in Iran or obtained from any other source is transferred to the uranium conversion facility (UCF) in Esfahan or to any other future uranium conversion facility which Iran might decide to build in Iran within this period," the document says.
"Iran and the P5+1 will hold meetings at a ministerial level no less than twice a year to assess the fulfillment of the deal.
A senior researcher at the Institute of Oriental Studies, Vladimir Sazhin, told Vestnik Kavkaza that such a long period of negotiations with repeated postponement of entering the final agreement is due to the complexity of the Iranian nuclear issue, "both politically and psychologically."
"It's been 12 years since Iran's nuclear problem appeared on the list of the most pressing international issues, and only now have we come to some common denominator. The main thing is that, since the Geneva agreements of 24 November 2013, the negotiating process has been active and fruitful," the expert said.
According to him, all this time it was important that the sides, despite the difficulties in finding a compromise, have moved steadily to the present day. "There were moments when the negotiators were taking one step forward and two steps back. But the common desire to close the Iranian nuclear issue and come to a final document still won," Sazhin stressed.
The expert praised the achieved consensus as a great victory for the entire world community. "They will lift sanctions from Iran sooner or later, it will return to the global economy and it will change the economic situation in Iran and will increase its political status. But there is another very important point: we have an example of how to solve complex problems of nuclear technologies in different countries. Both the negotiations and the final document are very important for this reason," Vladimir Sazhin concluded.
