Everyone is buzzing about the Iran nuclear deal Obama has made recently. Iran and the P5+1 nations, which are the U.S., Britain, Germany, France, Russia and China — have reached a technical understanding to begin implementing an agreement to roll back Iran’s nuclear program.

The deal aims to reassure the international community that Iran is not trying to develop a nuclear weapon. In exchange, Iran will see a six-month suspension in sanctions that have crippled its economy. During that period, negotiators will work to craft a final agreement. The International Atomic Energy Agency (IAEA) is commissioned to oversee Iran’s commitment to the agreement.

Here are the details of the proposed deal that is to go into effect on January 20th. Iran commits to halt all production of near-20% enriched uranium and disable the centrifuges used to produce it. They will begin neutralizing its enriched uranium stockpile and refrain from enriching uranium in nearly half the installed centrifuges at its Natanz site and three-quarters of centrifuges at its Fordow site. They will also limit centrifuge production to what’s needed to replace damaged machines and refrain from building additional enrichment facilities or advancing research and development of enrichment. They agree to refrain from commissioning, fueling or adding reactor components to its Arak reactor and halt production and additional testing of fuel for the reactor. And finally, they will refrain from building a facility capable of reprocessing, which would allow Iran to separate out plutonium, which could be used to make nuclear bombs.

In exchange for this agreement, the P5+1 nations agree to suspend implementation of sanctions on Iran’s petrochemical exports and on goods imported for use in its automotive industry. They will suspend sanctions on Iran’s import and export of gold and other precious metals as well as shelve efforts to further curtail Iranian crude-oil purchases by P5+1 countries.

In addition, they will free up Iranian money to help pay the educational costs of young Iranians, many of whom are attending U.S. colleges and universities and raise the ceilings for money transfers to and from Iran. They will also take actions to ease Iran’s access to $4.2 billion in restricted Iranian funds in several installments. The first installment of $550 million in frozen assets will be released to Iran in the first week of February.

Iran’s main focus is getting the sanctions lifted while the P5+1 nations look to eliminate a nuclear threat from Iran. While many have criticized the deal, no one has proposed anything else besides rebuking the current agreement. We’ll have to see how this plays out and hope for the best, again.

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