Sunday, November 24, 2013

Major Powers Reach Deal With Iran To Freeze Nuclear Program --- GENEVA—The U.S. and five other world powers struck a historic accord with Iran on Sunday, agreeing to ease part of an economic stranglehold in exchange for steps to cap Tehran's nuclear program and ensure the Islamist government doesn't rush to develop atomic weapons. -- The agreement calls for Iran to stop its production of near-weapons grade nuclear fuel—which is uranium enriched to 20% purity—and for the removal of Tehran's stockpile of the fissile material, which is estimated to be nearly enough to produce one nuclear bomb. -- Iran, in return, will gain relief from Western economic sanctions that U.S. officials believe will provide between $6 billion and $7 billion in badly needed foreign exchange for Tehran over the next half-year. -- The agreement reached in Geneva is an interim deal for about six months that will allow international powers to try to strike a permanent pact, an effort experts said would be the true test of Iran's new government, headed by revitalization-minded President Hasan Rouhani. - More, wall street journal

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