In exchange for lifting crippling U.S., European and U.N. oil and financial sanctions, Iran agreed to a historic deal that limits its nuclear production capacity and fuel inventory over the next 15 years.

Here are highlights of what Iran agreed to and what it gets in return.

Iran reaffirms that under no circumstances will it seek, develop or acquire any nuclear weapons.

Agreement bars most nuclear research and development work until after year 10.

It will be allowed to produce 3.67 percent enriched uranium for peaceful purposes. That is enough to power reactors for energy production and research, but falls well below the level needed for rapid upgrade to warhead-grade material, which is more than 90 percent enrichment.

The agreement gives the United Nations’ nuclear watchdog, the International Atomic Energy Agency, wider access and more monitoring technology in Iran, including:

Increasing the number of designated IAEA inspectors to between 130 and 150 within nine months from the date of the implementation of the agreement.

Inspectors will come from nations that have diplomatic relations with Iran, meaning no Americans.

Iran will permit the IAEA to monitor, through agreed measures that will include containment and surveillance, for 25 years all uranium ore concentrate produced in Iran or obtained from any other source.

For 15 years, Iran will permit the IAEA to implement continuous monitoring, including through containment and surveillance measures, as necessary.

All spent fuel from the redesigned Arak reactor, regardless of its origin, for the lifetime of the reactor, will be shipped out of Iran to a mutually determined location. The Arak reactor, known for its heavy-water design, is not yet in operation. It produces plutonium as a byproduct, which can also be used to make weapons.

For 15 years, Iran will not engage in producing or acquiring plutonium or uranium metals.

In exchange, the U.S. agrees to lift sanctions that among other things will allow:

Arms embargo to be lifted after eight years for ballistic missiles and five years for conventional weapons.

The sale of commercial passenger aircraft and related parts and services to Iran.

Iran crude oil sales, including lifting limitations on the quantities of Iranian crude oil sold and which nations can purchase Iranian crude.

Iranian citizens into the United States for higher education coursework related to careers in nuclear science, nuclear engineering or the energy sector.

Non-U.S. entities that are owned or controlled by a U.S. person to engage in activities with Iran.

The import into the United States of Iranian-origin carpets and foodstuffs, including pistachios and caviar.