Iran will limit research and development on its advanced centrifuges, grant the IAEA expanded access to its centrifuge facilities and convert half its stocks of 20% oxide into fuel for a research reactor under the terms of a seven-month extension on an interim nuclear deal reached with six world powers in Vienna last week.
The terms of the extension were shared with Al-Monitor by a source briefed by the negotiating teams. In return for the steps Iran will take, the five permanent members of the UN Security Council plus Germany (P5+1) have agreed to continue providing Iran $700 million in its oil sale proceeds per month, amounting to almost $5 billion total through June 30, as well as to continue suspending certain sanctions including on petrochemical exports, trade in precious metals and auto parts. Iran and the P5+1 announced Nov. 24 that they would try to reach a political agreement for the final nuclear deal within four months, with the additional three months of the extension to be used to complete drafting of the technical and implementation details.