January 13, 2014 | Quote

Iranian Nuclear Accord Advances

World powers and Iran agreed to begin implementing a pact to curb Tehran's nuclear program on Jan. 20, setting the stage for six months of diplomacy intended to end Tehran's atomic weapons threat, officials said.

Under Sunday's deal, Iran will stop producing near-weapons grade nuclear fuel and start rolling back or freezing other nuclear work next week, said U.S., European and Iranian officials.

In turn, the U.S. and European Union will start easing some of their punitive economic sanctions on Iran, starting next week with suspending a ban on Iran's trade of petrochemicals, autos and precious metals.

“Iran's economy is showing signs of recovery after years of sanctions, due in no small part to the recent sanctions relief…and a perception that the Obama administration may no longer be committed to ratcheting up the economic pressure,” said Mark Dubowitiz of the Foundation for Defense of Democracies, a conservative think tank which advises Congress on Iran sanctions.

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