President Trump is expected to announce today that he will allow sanctions to go forward on Iran, a first step toward withdrawing from the Iran nuclear deal, according to a US official and a person familiar with the plan.
However, the sanctions could take months to go into effect as the US government develops guidance for companies and banks.
The officials cautioned that nothing is final until Trump makes his announcement from the Diplomatic Room of the White House at 2 p.m. ET.
The Iran nuclear deal is a historic 2015 agreement between the US, Iran and other world powers.
The deal took two years to negotiate and is considered a cornerstone of President Barack Obama’s foreign policy legacy.
The essential idea behind the deal is that, in exchange for limits on its nuclear activities, Iran would get relief from sanctions while being allowed to continue its atomic program for peaceful purposes.
Some provisions of the 2015 deal:
- The deal reduces the number of Iranian centrifuges by two-thirds. It places bans on enrichment at key facilities, and limits uranium research and development to the Natanz facility.
- It caps uranium enrichment at 3.67% and limits the stockpile to 300 kg, all for 15 years.
- Iran is be required to ship spent fuel out of the country forever, as well as allow inspectors from the IAEA inspectors certain access in perpetuity. Heightened inspections, including tracking uranium mining and monitoring the production and storage of centrifuges, will last for up to 20 years.