Iran Nuclear Deal

Q. Why in News ? 

A.  The United States was further isolated over its bid to reimpose international sanctions on Iran with 13 countries on the 15-member U.N. Security Council expressing their opposition, arguing that United State's move is void given it is using a process agreed under a nuclear deal that it quit two years ago.

Q. What is the Iran Nuclear deal?

• Iran agreed to rein in its nuclear programme in a 2015 deal struck with the US, UK, Russia, China, France and Germany.

• Under the Joint Comprehensive Plan of Action (JCPoA) Tehran agreed to significantly cut its stores of centrifuges, enriched uranium and heavy-water, all key components for nuclear weapons.

• The JCPOA established the Joint Commission, with the negotiating parties all represented, to monitor implementation of the agreement.

Q. Why did Iran agree to the deal?

• It had been hit with devastating economic sanctions by the United Nations, United States and the European Union that are estimated to have cost it tens of billions of pounds a year in lost oil export revenues. Billions in overseas assets had also been frozen.

Q. Why has US pulled out of the deal?

• Trump and opponents to the deal say it is flawed because it gives Iran access to billions of dollars but does not address Iran’s support for groups the U.S. considers terrorists, like Hamas and Hezbollah.
• They note it also doesn’t curb Iran’s development of ballistic missiles and that the deal phases out by 2030. They say Iran has lied about its nuclear program in the past. Iran Nuclear Deal

Q. What are the implications of US sanctions on Iran?

• Other countries have promised to uphold it but their ability to do so will depend on how their companies can be firewalled from U.S. sanctions if they continue their engagement with Iran.

• The sanctions often referred to as “secondary sanctions”, which primarily target non-US companies engaging in business in or with Iran entirely outside US jurisdiction.

Q. What is the significance of Iran Nuclear deal ? 

• The Iran deal, despite its shortcomings, was a shining example of the capacity of world powers to come together and sort out a complex issue diplomatically.

• It assumed greater significance given the recent wars and chaos in West Asia.

• It should have set a model in addressing other nuclear crises.

• Iran deal, and other diplomatic achievements, is necessary to convince countries like North Korea, that it is possible to create security without acquiring nuclear weapons.

• The deal is important in ensuring the international nuclear non-proliferation regime and regional peace and stability.