Iran and the West reach a deal

Iran will place limits on its nuclear programme in return for an end to almost a decade of economic isolation.

15-7-16-Iran-634

Iran's Mohammad Javad Zarif agreed to place limits on its nuclear programme

One of the biggest diplomatic agreements of the post-war era was agreed this week as Iran and global powers America, Germany, Russia, France, Britain, and China secured a deal. Iran will place limits on its nuclear programme, including monitoring of sensitive sites by the International Atomic Energy Agency, in return for an end to almost a decade of economic isolation. The dismantling of sanctions could unfreeze assets worth over $100bn and unleash a flood of foreign investment into the country's economy and stockmarket.

What the commentators said

Israel and President Barack Obama's critics in the US Congress, who are opposed to the negotiations, have consistently warned that the "wily Iranians" would pull the wool over the Western negotiators eyes, noted economist.com. But "that was never likely" given that Iran's need for a deal was greater, and the details of this deal certainly don't suggest it is the case.

Many critics would only be happy with a complete dismantling of Iran's nuclear infrastructure, which was never going to happen. While the deal is like to face opposition in Congress, President Obama should have the numbers to veto any attempts to block it and quite right too.

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