accord with world powers to limit its nuclear program in exchange for
as much as $7 billion in relief from sanctions left Presidents Barack Obama and Hassan Rouhani the task of selling the deal to critics.
agreeing to curtail its nuclear activities, Iran won an easing of
certain sanctions on oil, auto parts, gold and precious metals for six
months. The deal, which is reversible, was announced early yesterday
after five days of talks in Geneva. Without removing sanctions on oil
exports, it releases some of Iran’s oil assets and allows it to keep
exporting crude at current levels.
While Iran will be
allowed to buy and sell precious metals, including gold, it will be
barred from accepting them as payment for oil or any other sanctioned
transaction, according to the officials. Iran sits on the world’s
fourth-largest proven oil reserves.