Sanctions relief as Iran commits to nuclear curb

Iran struck a historic deal with the US and five other world powers, agreeing to a temporary freeze of its nuclear programme in the most significant agreement between Washington and Tehran in three decades.

Iranian president Hassan Rouhani endorsed the deal, which commits Iran to curb its nuclear activities for six months in exchange for limited and gradual sanctions relief, including access to $4.2bn (€3.1bn) from oil sales. The six-month period will give diplomats time to negotiate a more sweeping agreement. It builds on the momentum of the public dialogue opened during September’s annual UN gathering, which included a 15-minute phone conversation between President Barack Obama and moderate-leaning Mr Rouhani, who was elected in June.

The package includes freezing Iran’s ability to enrich uranium at a maximum 5% level, which is well below the threshold for weapons-grade material and is aimed at easing Western concerns that Tehran could one day seek nuclear arms.