Iran Nuclear Deal Done (-20% Uranium Production For $6-7bn Lifted Sanctions)

Tyler Durden's picture

UPDATE: Details of the deal are emerging including $4.2bn in FX

Despite earlier denials from Iran's Deputy FinMin, EU, Iran, and US officials have confirmed:


There are no details yet - but an interim agreement has been reached to 'roll back' some of Iran's nuclear program in exchange for a lifting of some sanctions. Close U.S. ally Israel opposes the deal as too generous to an enemy it sees as a mortal threat. Israel is not a party to the talks. President Obama will address the nation at 1015ET to take a victory lap (perhaps this foreign victory will lift his domestic approval rating off record lows)...




The Iranian President seems pleased...



But not so much The Israelis:




Some details on the deal...

From AlJazeera:




and WaPo,

Close U.S. ally Israel opposes the deal as too generous to an enemy it sees as a mortal threat. Israel is not a party to the talks.




The proposed deal offered to Iran would reportedly allow limited uranium enrichment, although under tight restrictions and heavy international monitoring. But Western officials have balked at recognizing a legal "right" to uranium enrichment, hoping instead to craft language in the final agreement that acknowledges the right of all countries to pursue nuclear energy for peaceful purposes. Zarif appeared to endorse that approach publicly last week.


The sides also continued to haggle over details of the limited sanctions relief to be offered to Iran in return for scaling back its nuclear program, diplomats said. The relief would reportedly include freeing up a small portion of Iran's overseas currency accounts and easing other trade restrictions.


The most painful sanction, affecting Iran's oil and banking sectors, would remain until the end of the deal's first phase, depending on Iran's willingness to accept permanent curbs on its nuclear program, Western officials said.

The President deep in negotiation:




Via Al Jazeera,

Iran and six world powers have reached an agreement on curbing Iran's nuclear programme in exchange for limited sanctions relief, several delegations in the talks said on Sunday.


"We have reached an agreement," Iranian Foreign Minister Mohammad Javad Zarif announced on his Twitter feed.


Al Jazeera's Jonah Hull speaking from Geneva said "marathon talks have come to an end, the French foreign minister gave a thumbs up as he departed the Intercontinental hotel.


"Foreign ministers of the P5+1 negotiation with Iran will be going to Geneva's UN headquarters where they will announce details of the deal," he said. "There are no details yet, but a interim agreement has been struck to roll back some of Iran's nuclear programme."


"It is extrordinarily significant," he added.


The Israelis initial response (via the Jewish Global Advocay website):

A diplomatic solution is unquestionably the preferred approach to resolving the Iranian nuclear issue. But for years Iran has maintained an indisputable posture of deceit and defiance towards the United Nations, the International Atomic Energy Agency, and nations around the world, including, centrally, the P5+1.


Given this history, and the concomitant lack of trust, the P5+1 will need to be ever vigilant in determining whether Iranian leaders are, in fact, sincere and will fulfill their part of the deal, or will rather play for time while trying to advance their nuclear program.


Serious questions for us to consider in evaluating the merits of this agreement with Iran include:


-- How do America’s closest allies in the Middle East view the deal, since, after all, they are the nations most immediately threatened by the prospect of Iran's belligerence, nuclear weapons capability and delivery systems?


-- Does the agreement preserve, explicitly or implicitly, an Iranian “right” to enrich uranium? And, specifically, what are the implications for permitting Iran to continue to enrich uranium to 3.5% during the six-month interim deal?


-- Are there precise, satisfactory monitoring arrangements for halting all construction, inside and outside, at the plutonium facility in Arak?


-- Is Iran permitted to continue building centrifuges, for potential installation later -- say, at the end of the six-month interim deal -- to enhance still further its enrichment capability?


-- Is Iran required to provide full access to all of its enrichment facilities, centrifuges and nuclear material holdings, including yellow cake?


-- Does Iran have to declare and allow inspections of all work related to nuclear-weapons development, as the IAEA has identified, including triggers, computer simulations of nuclear explosions, ballistic missiles and nuclear warheads?


-- Have the six world powers received any concrete commitment on Tehran’s involvement in the brutal war in Syria, support for Hezbollah, and efforts to develop intercontinental ballistic missiles?


Ultimately, the true test of this agreement will be the ability of the world powers and UN agencies to verify Iranian compliance, including openness to, and full cooperation with, regular, intrusive inspections of all of its nuclear facilities.


Meanwhile, we believe that existing sanctions should remain in place and new sanctions, whose trigger date would not necessarily be immediate, should be pursued to underscore the seriousness of America’s determination -- and the consequences of an Iranian failure to act in good faith.


Tangible deeds, not poetic words, will ultimately determine whether Iran has embarked on a new path of cooperation and compliance, or is pursuing the same aggressive and destabilizing policies, which pose such a threat to regional and global security, simply wrapped in new packaging.




And in other news...


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Squishi's picture

WW3 here we go...

ZH Snob's picture

the iranians can't seriously think they will ever see a penny of that supposedly frozen account money.  if so, they don't know our bankers like we do.

LetThemEatRand's picture

Perhaps, but I think you just hit the nail on the head re why a certain country is against the deal.

boogerbently's picture

Wait a couple of days and the LIES involved with this deal will surface also.

Wahooo's picture

Yep. By mid-week, all the nasty stuff will come out and foreign policy experts will be gagging on their turkey. DoD will no doubt love this thing.

At first glance it reads like the deal we cut with North Korea but with inspections.  One thing though, I would have thought Iran would hold out for the US to clean up Stuxnet from its computers.

LetThemEatRand's picture

And I'm still worried about North Korea invading us.  They have axis evil body spray.

flacon's picture

Will the stock market be UP tomorrow? Does a bear shit in the woods?

aVileRat's picture

Will be a fun day in a few hours.

Oil is already down quite a bit, we will see when Tokyo opens how far down it is by Chinese bids. Equities in EU likely will rally because of the sudden influx of new swaps from a fresh currency to debase. As mentioned last week ECB inflation projections were heavily dependant on oil inflation. What's 4MM bbl's of Fateh light going to do to the brent pits this month. Expect those GDP estimates to fall in line with the bottom end of the IMF by January and/or the fizzled Black Friday numbers. But the MOMO's will get their "christmas rally" on crude's weakness, so all is well in the OECD.

I wonder who started  the pressure to get this deal done. Funny how just a few months ago we were seeing smoke signals from the Telgraph and WSJ related to potential defaults in NOC entities of Iran such as their National Natural Gas Company, and the potential firesale of assets co-operated in the UK North Sea. Assets that provide heavy cash flows to the UK Gov. Things that make you go hmmm...

Executive summary is that nuclear rogues can usurp all negotiations with allies in the new normal. Canada's free trade deal & China energy export strategy is toast. 15 years of kow-towing to USA imperialism just got 1 up'ed by Iran gaining preferred oil & gas export status under this new Accord. Saudi Arabia & Israel both were hoping that continued pressure would enable them to shift spending from arms purchases into domestic infrastructure going into 2020 ? Now ? Expect those arms orders to be doubled assuming this goes the way of the Food for Oil program. I'm curious to see if this gives sufficent breathing room to the Obama administration on the expected December jobs report and what sort of blowback will happen on joint-pork projects Obama burdened on their old-normal allies. F-35 as a share of Israeli GDP comes to mind.

Expect Iran to take these hard dollars and reinvest into their ECCW capabilities as fast as the petrodollars come through the Russian banking conduit. 0At the end of the day this smells like a scandal in the making: A few vested interests were on the verge of default and got their assets removed from the embargo ring-fence to prevent a UK soverign bankruptcy filing. When you get high up enough, I guess rackateering is just classified as Accords and political engagement. Good to know.

How Canada and Mexico respond to their Free Trade deals with the EU/Chinese investments being co-opted to Iran for preferential status on oil & gas imports will be telling this week. The radio silience out of India, Iran's largest export partner and dollar recycling conduit is also going to be interesting.

Pity we lack WaPO editors competent enough to tackle these issues. No hard questions asked for the administration or Sukov officials please.



LetThemEatRand's picture

Right, because Iran is invading who again?

sixsigma cygnusatratus's picture

Certainly not Poland or the Czech Repuplic.  They just want to be our friends again.

LetThemEatRand's picture

Fuck.  Iran is invading Poland?!  Then yes, we must stop them!

sixsigma cygnusatratus's picture

C'mon people, do I really need to put a /sarc tag on that one?

Dr. Engali's picture

Sarc tags are for the retarded. If they don't get it fuck them.

e_goldstein's picture

WW3, Barry's crowning achievement.

Bad Attitude's picture

Dear Leader (actually his puppet masters) isn't satisfied with just destroying the US.

Forward (over the cliff)!

thewhigs's picture

"Generals gathered in their masses
Just like witches at black masses
Evil minds that plot destruction
Sorcerers of death's construction
In the fields the bodies burning
As the war machine keeps turning
Death and hatred to mankind
Poisoning their brainwashed minds... Oh Lord yeah!"

Black Sabbath: "War Pigs"

BadDog's picture

This will not stand! A new moon is a week away and the darkness beckons.  War is coming. LSU beat Texas A&M.  I'm going to bed.

JustObserving's picture

Oil will be down and markets will rally.  Gold will be down as usual.

disabledvet's picture

yes and yes. and yes to the third as well. and "Putin wins" while its all high fives in the land of Assad and Friends. I do agree this doesn't have the feel of 1977 however... truly one of the most historic moments in the post World War II era. That would be followed up by this interesting group as well: in case anyone was wondering out there "if Jewish History even exists?" And the answer is "indeed it does." That "exodus" could be construed as bringing about the collapse of the Soviet Union. Is this an American "exodus" as well? stay tuned...

Yen Cross's picture

    I feel so much safer.

Long-John-Silver's picture

I just got a "Heat Flash" on hearing this news.

Ralph Spoilsport's picture

Uh oh, the frogs like the deal.

y3maxx's picture

...POTUS is 0 for 36 for getting things done right with the Planet, what makes anyone think this deal will make it 1 or 37?

resurger's picture

The warmongers in the AIPAC will make sure that the POTUS refuses such silly agreement.

dick cheneys ghost's picture

John Bolton is not a happy Zionist right now.........but fuck him and the neo-zio-cons.......

lets see how freddie squares this one........

TeamDepends's picture

Don't watch the TV, 'cause they go straight for your 'nads pretending they be givin' you the truth.  As if!

resurger's picture

The MSM Shills are so angry atm.

Millivanilli's picture

The yids are chocking on their matzo balls.  


Saudi and Israel go it alone.   

johny2's picture

Whoever thinks the deal was done without approval is missing out the details. The population is getting harder to support the wars, either thanks to internet or to the fact that recent  false flags are planned without any imagination. So the negotiation and slowing down of Iran is a good deal, whatever they publicly say.

john39's picture

Israel might have a shred of credibility if it actually ratified or abided by the nuclear nonproliferation treaty. But then again, it would have to play by the same rules that it demands other countries follow. Unpossible.

resurger's picture

ofc! How many nukes they got like 200!!

I dont know if the Al-Saud family is happy with this current development, they have found a new ally with Israel that a strike against Iran is imminent in the near future. This however is the second blowback to Bander and his cohorts imo. First was Syria, now this! They must be mad by now.

of course not to mention the "Evil Speculators" and "Death Merchants", their business is going down, which means that Ben and Yellen must QE 200bn/month at least to offset the loses.

john39's picture

The Saudis and the Israelis have always been allied secretly, recent events just forced the unholy alliance out into the sunlight. The house of Saud is secretly Jewish, a fact that is now becoming very obvious, and no doubt will not be much appreciated by the Saudi people.

WallowaMountainMan's picture

as forcast.....




ShrNfr's picture

The result of this farce will make ObamaNationCare look like a total sucess.

Long-John-Silver's picture

If you like your Nuclear Free Iran, you can keep your Nuclear Free Iran.

resurger's picture

"Close U.S. ally Israel opposes the deal as too generous to an enemy it sees as a mortal threat. Israel is not a party to the talks"

No bodygives a fuck about a terrorist zionist state.

fonzannoon's picture

listen from 45 seconds to 1 min and one second in. Everything you will ever need to know.

Dr. Engali's picture

I've always had a great appreciation for that movie. And I've always believed that they will tell you what they are going to do to you before they do it. In my eyes Rollover fits that bill.

Truther's picture

I can see a comment from bibi natanyahooo: " I order the united states of israhell to bomb Iran now... Now I tell you".

dick cheneys ghost's picture

what did BiBi say??????


Oldballplayer's picture

Peace in our time, bitchez.