The Nuclear Deal With Iran
Iran has agreed to curtail its nuclear activities, permit more international inspections and reduce its stockpile of enriched uranium in exchange for as much as $7 billion in relief from international sanctions, in a six-month pact struck after talks were deadlocked since 2003. Below, full coverage of the deal's impact on global markets and businesses and political reactions in Washington, Tehran, Jerusalem and Riyadh.
Diplomats will start drafting a final accord this week to resolve a decade-long standoff with Iran that would rescind oil and banking sanctions in return for limits on the Islamic Republic’s nuclear program.
Crude advanced after Iran and six world powers concluded a meeting in Geneva without coming to an agreement on the nation’s nuclear program, tempering projections of a resolution to the dispute that has cut Iranian oil exports.
Israeli Prime Minister Benjamin Netanyahu pushed the world for years to limit Iran’s nuclear program. After rejecting a deal designed to do just that, he finds himself the odd man out with his own options, including military action, limited.
Israeli Prime Minister Benjamin Netanyahu told the United Nations that the international community must impose explicit “red lines” on Iran’s uranium enrichment program to prevent it from attaining nuclear weapons.
Aban Offshore Ltd., Asia’s third- most-indebted oil rig provider, will be able to obtain cheaper U.S. and European financing following the easing of some sanctions on Iran, the Indian company’s biggest market.