Iran’s parliament - Majlis, approved the Joint Comprehensive Plan of Action (JCPA) or ‘Vienna agreement’ paving the way for implementation of the historic nuclear agreement.
The agreement was signed by Iran and P5+1 countries comprising of the United States, the United Kingdom (UK), Russia, China, France and Germany on 14 July 2024 on the Iran nuclear programme. It ended a 12-year stand-off.
The agreement, on one hand, allows Iran to develop its nuclear programme for peaceful purposes while on the other hand it lifts the economic sanctions on Iran.
Important points in the Vienna agreement
About Arms embargo
According to the agreement, the restrictions on defensive arms will be lifted before those on offensive arms.
It means that the conventional arms embargo (an official ban on trade or other commercial activity with a particular country) will last another five years, and restrictions on ballistic missile technology will last eight years.
Other Points
- A violation of the deal could lead to the automatic “snap-back” of sanctions within 65 days, if a dispute-resolution process failed.
- 800 Iranian individuals and entities will be delisted from the list of multilateral and international sanctions.
- The UN ban on Iranian student’s ability to study nuclear physics will be lifted.
- The IR-6 and IR-8 centrifuges will be tested at laboratory level in the first 8 years of the Iran Deal.
- Iran’s stockpile of enriched uranium will be partly sold on the international market, partly diluted, and partly converted into fuel.
- The excess centrifuges will be stored on-site in Natanz
- Iran has not allowed the IAEA(International Atomic Energy Agency -UN’s nuclear watchdog) to use remote streaming cameras at nuclear facilities.
- The economic sanctions against Iran would be lifted immediately after verification of its compliance with the deal.
- The draft provides for the lifting of restrictions for the EU to import oil and gas from Iran, as well as exports of oil and gas production equipment to Iran.
- IAEA signed a separate agreement with Iran on the military aspects of its nuclear activities. The separate agreement focuses on the issue of the Parching military site.
- Iran and P5+1 group are to hold ministerial-level meetings at least twice a year to evaluate how the agreement is being implemented.
- Iran agreed to a 15-year moratorium on enriching uranium beyond 3.67 percent. The enrichment would be conducted only at the Natanz facility, while the Fordo facility would not conduct any enrichment activities or store fissile material.
- Iran also agreed to store no more than 300 kg of low-enriched uranium. The Arak reactor would not be used to produce plutonium under the deal. The spent fuel would be handled by international mediators.
The deal also provides for the lifting of economic sanctions imposed outside of the EU, like the banking and insurance restrictions on Iran by the EU and the US.