While President Obama acknowledged a formal agreement won't be signed until June, ABC News breaks down the essential elements of who got what at the end of the eight-day marathon negotiations in Switzerland.
TAKEAWAYS FOR THE UNITED STATES:
A Cut Back in Centrifuges
One of the primary concerns over Iran’s nuclear program was its amassing of centrifuges, which can be used to enrich uranium into the material needed to make an atomic bomb.
Iran also has agreed not to build any new nuclear enrichment facilities for the next 15 years.
The “Breakout” Time
Right now Iran’s “breakout time,” or the time it needs to actually produce a bomb, is two to three months.
Under the new agreement, the timeline will be extended to one year over the next 10 years.
Stockpile of Nuclear Material
Iran will have to reduce its current stockpile of 10,000 kg of low-enriched uranium to 300 kg over the next 15 years, according to the deal.
That uranium will also not be allowed to be enriched over 3.67 percent. That’s a level at which nuclear power reactors can operate, but much lower than what is considered “bomb-grade” enrichment of around 90 percent.
Inspections and Verification
As President Obama said in his Rose Garden speech after the announcement of the framework, “If Iran cheats, the world will know it.”
The way the world will find out about that cheating? An extensive number of inspections. The framework agreement stipulates that no easing in sanctions of any kind can begin until Iran submits to inspections and verifies that it has dismantled its nuclear program.
The agreement stipulates that IAEA inspectors will have “regular access” to any of Iran’s nuclear facilities as well as the supply chain that contributes to its program.
TAKEWAYS FOR IRAN
For years, these sanctions have put severe pressure on Iran’s economy and isolated it from the international community. At a time when Iranians are unable to even use a credit card, the economic benefits could prove to be immense.
Research and Development
Under the agreement Iran would be allowed to continue nuclear research and development, a practice critics of the deal say could be used to research sophisticated nuclear reactors that could eventually be put to use in any plans to develop a bomb.
Deep Buried Reactor at Fordow
Although the tentative agreement says Iran will no longer be allowed to enrich uranium at its deep-buried nuclear facility at Fordow, Iran will be allowed to keep the facility open. That’s seen by critics as a concession by the U.S., which ultimately would like to have seen the facility shuttered. Iranian's negotiators will surely present this portion of the agreement as a victory for Tehran.
Some Republicans have already vowed to derail the deal.
In Tehran, reports indicate Iranian citizens have taken to the streets to celebrate the conclusion of the talks and the proposed lifting of sanctions.