{"id":50973,"date":"2015-07-14T17:04:32","date_gmt":"2015-07-14T23:04:32","guid":{"rendered":"http:\/\/www.businesspundit.com\/?p=50973"},"modified":"2020-09-21T13:33:51","modified_gmt":"2020-09-21T17:33:51","slug":"now-that-we-have-an-iran-nuclear-deal-what-will-be-the-economic-effects","status":"publish","type":"post","link":"https:\/\/www.businesspundit.com\/now-that-we-have-an-iran-nuclear-deal-what-will-be-the-economic-effects\/","title":{"rendered":"Now That We Have An Iran Nuclear Deal, What Will Be The Economic Effects?"},"content":{"rendered":"

\"Iran<\/a><\/p>\n

Today\u2019s announcement of a deal limiting Iran\u2019s nuclear program also will lift many, if not all, of the crippling economic sanctions that the West has levied over the years. While inhibiting the Islamic Republic\u2019s ability to develop a nuclear weapon was the goal of the P5+1 nations (the U.N. Security Council – the United States, Britain, France, Russia, China – and Germany), Iran has been desperate to free its economy from the shackles those countries have imposed.<\/p>\n

The breakthrough comes after nearly two years of negotiations and eighteen straight days of discussion in Vienna. Under the terms of the deal, Iran would need to reduce its existing stockpile by about 98 percent and would be barred from enriching uranium for ten years. The agreement would also keep in place conventional arms embargoes that became a point of contention in recent days.<\/p>\n

\u201cI believe this is a historic moment,\u201d Iranian Foreign Minister Mohammad Javad Zarif<\/a> said on Tuesday. \u201cWe are reaching an agreement that is not perfect for anybody but is what we could accomplish. Today could have been the end of hope, but now we are starting a new chapter of hope.\u201d<\/p>\n

President Obama, meanwhile, spoke at the White House Tuesday morning to announce the agreement and encourage Congress to give its assent.<\/p>\n

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