Nuclear Deal Could Release Iranian Oil

Posted March 20, 2015 at 5:00am

Bloomberg reports that “World powers have offered to suspend U.S. and European oil sanctions against Iran within months of signing an agreement if the Islamic Republic adopts strict limits verified by intrusive inspections of its nuclear program for at least a decade, according to U.S. and European officials.  

“Limits on Iran’s oil exports would be suspended after Iran complies with an initial set of restrictions, such as disconnecting the majority of its centrifuges and submitting them for verification, according to the officials who spoke to Bloomberg News on condition of anonymity to describe the private negotiations under way in Lausanne, Switzerland.  

“Negotiating teams from six powers — the U.S., U.K,, France, Germany, China and Russia — are working toward a self-imposed March 31 goal to reach the framework of a nuclear agreement with Iran.”