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Iran to limit centrifuge R&D under extension

Iran has agreed to take further steps to freeze its nuclear program under the terms of a seven-month extension of an interim nuclear deal in exchange for continued sanctions relief.
Iranian Foreign Minister Javad Zarif and EU envoy Catherine Ashton address a news conference after a meeting in Vienna November 24, 2014. Iran and six powers failed for a second time this year on Monday to resolve their 12-year dispute over Tehran's nuclear ambitions and gave themselves seven more months to overcome the deadlock that has prevented them from clinching an historic deal.       REUTERS/Leonhard Foeger (AUSTRIA - Tags: POLITICS ENERGY) - RTR4FEIM

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.

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