Investopedia (2019). A Dummies Guide to the Iran Nuclear Deal
A historical accord, or a historical mistake? Depends on whom you ask, and what they had at stake. After months of preparation, two weeks of final intensive discussions in Vienna and with eight parties involved, the final result was an agreement with five annexes. The Iran Nuclear Deal made headlines across the globe as a landmark historical agreement between extreme opponents.
The deal laid out a lengthy process spanning over 15-25 years that would be supervised by an eight-member committee, including Iran, the United States of America, Britain, France, Germany, Russia, China and the European Union.
In a nutshell, the agreed-upon nuclear deal aimed at limiting Iran’s ability to produce a nuclear weapon, in exchange for the removal of various sanctions imposed on it internationally. However, the deal got a significant shake-up under U.S. President Donald Trump, who on May 8, 2018, announced that the U.S. would be pulling out of the deal and issuing fresh sanctions against Iran.
Based on the revelations of an Iranian exile group in 2002, Iran was suspected to have nuclear facilities. Following inspections by the Internationa
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