The United States and the European Union both took formal legal steps Sunday -- the so-called Adoption Day for the Joint Comprehensive Plan of Action (JCPOA) -- that will lift sanctions once Iran meets certain conditions tied to a landmark nuclear agreement with major world powers.
Sunday, October 19, marked 90 days since the United Nations Security Council approved the JCPOA, reached July 14 when Iran and six world powers -- the United States, Germany, Britain, France, Russia and China -- agreed to end sanctions against Iran in exchange for curbs on a program that the West suspected was aimed at developing a nuclear bomb.
Adoption Day: The six world powers involved in the accord began taking steps to comply with the agreement, including issuing waivers to Iran nuclear sanctions. Iran began steps to restrict its nuclear program.
Implementation Day: There is no firm date for when the agreement actually takes effect. It will be reached when Iran demonstrates to the International Atomic Energy Agency (IAEA) that is has restricted its nuclear program as promised. Iran said it would be able to meet these requirements by the end of the year. Western officials said it would likely take longer, possibly six to nine months.
What Iran must do? Iran must prove to the IAEA that it has reduced its stockpiles of enriched uranium, dismantled two-thirds of its centrifuges, halted construction of new nuclear facilities, and made arrangements for IAEA inspections and monitoring at its facilities.
What must the six world powers do? Once the IAEA has certified Iran is in compliance, the U.S. and European Union will waive many of their 2012 nuclear-related sanctions that targeted Iranian oil exports and international financial transactions.
In the years ahead: A United Nations embargo on conventional weapons will be lifted in five years, and a U.N. embargo on ballistic missiles in eight.
Senior officials from the six world powers, Iran and the EU meet in Vienna Monday to monitor implementation of Iran's commitments.
Some material for this report came from Reuters.
