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Iran, big powers clinch landmark nuclear deal: Iranian diplomats

14 July 2015 09:26 (UTC +04:00)

The agreement aims to limit Iran's nuclear work for more than a decade in exchange for the gradual suspension of sanctions that have slashed Iran's oil exports and crippled its economy.

"All the hard work has paid off and we sealed a deal. God bless our people," one diplomat told Reuters on condition of anonymity. A second Iranian official confirmed the agreement.

Under a draft version of the nuclear deal, sketched out in preliminary form on April 2, U.N. inspectors would have access to all suspect Iranian sites, including military ones, a diplomatic source said. According to the diplomatic source, the sanctions against Iran will be lifted by the decision of the UN Security Council within a month after signing of the deal.

Today, Iran is exporting about 1.2 million barrels of oil per day, but that figure would reach 2.3 million barrels after sanctions are lifted.