(UBS)
Iran agreement.
The 14-point plan leaves questions regarding key details. The US provides limited sanctions relief for Iran. While Iran nominally commits to not create nuclear weapons, the deal punts many thorny and contentious issues regarding Iran’s nuclear capabilities to future negotiations. This will happen over a 60-day period, with a goal of finalizing an agreement after that time. The agreement also reportedly includes other potential economic benefits for Iran (further sanctions relief, a $300 billion reconstruction fund that is to be sourced through private investment), but the administration emphasizes that these only will be conditioned on an agreement on the nuclear issues. Congress, which likely would need to review and vote on any nuclear deal, to say nothing about the cost of the conflict, is agitating for more details on the agreement. While an important breakthrough, this agreement marks really the beginning rather than the end of the process to try to end the war and address Iran’s nuclear capabilities.
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