Key points of the deal (for full document see link below):
- Iran will reduce its uranium enrichment capacity by two-thirds. This will involve stopping the use of its underground facility at Fordow for enriching uranium.
- Iran’s stockpile of low enriched uranium will be reduced by 95%, to 300 kg. This will be done either by diluting the enriched uranium or shipping it out of the country.
- The core of the heavy water reactor in Arak will be removed, and it will be redesigned so that it will not produce significant amounts of plutonium.
- Iran will allow UN inspectors to enter sites, including military sites, when the inspectors have grounds to believe undeclared nuclear activity is being carried out there. It can object but a multinational commission can override any objections by majority vote. After that, Iran will have three days to comply. Inspectors will only come from countries with diplomatic relations with Iran – therefore, they will not include Americans.
- Once the International Atomic Energy Agency (IAEA) has verified that Iran has taken steps to scale back its program, UN, US and EU sanctions on Iran will be lifted.
- Restrictions on trade in conventional weapons will last another five years.
- Restrictions on trade in ballistic missile technology will last another eight years.
- If there are allegations that Iran has not met its obligations, a joint commission will seek to resolve the dispute. If that effort is not successful within 30 days, the matter would be referred to the UN Security Council, which would vote on continuing sanctions relief. A veto by a permanent member would mean that sanctions are reimposed. The whole process would take 65 days.