BICOM

It is being widely reported that substantial progress was made in weekend talks and that Iran and the P5+1 powers (US, UK, France, Russia, China and Germany) are poised to sign a long-term deal over Tehran’s nuclear development.

Having agreed a framework to a comprehensive nuclear deal in April, Iran and the P5+1 have been locked in negotiations since then to conclude a long-term Joint Comprehensive Plan of Action. Three deadlines to reach such agreement have already slipped during the last 16 days of intensive talks in Vienna. The delays have meant that if a deal is concluded, US Congress will have 60 days to consider the agreement rather than 30, potentially holding back its implementation.

However, widespread media reports suggest that a deal is now imminent. Julian Borger in the Guardian says that only technical details on the text of the 100-page document remain to be finalised and that an announcement could even be made today.

Foreign Secretary Phillip Hammond is expected to return to Vienna today to join the final push for an agreement. France’s Foreign Minister Laurent Fabius said that he believes “we are finally entering the final phase of these marathon negotiations” and Iran’s President Hassan Rouhani is quoted saying “we are very close” to a deal. However, US Secretary of State John Kerry warned yesterday “major issues” remain.

If agreement has been reached, it remains unclear how key points of contention have been resolved. They include the pace of sanctions relief, Iranian disclosure over past nuclear activities and last week’s eleventh-hour demand from Tehran that a 2007 United Nations conventional arms embargo be lifted.

Meanwhile, Israeli leaders expressed their deep concern over the deal. Prime Minister Benjamin Netanyahu yesterday called it a “parade of concessions to Iran… even on issues that had been marked as red lines” by the P5+1. Defence Minister Moshe Ya’alon said that the deal would be “a historic mistake” with a “ruthless regime that spreads terrorism throughout the world.”