Why in the news?
The U.S. and Iran have reportedly reached a 14-point framework agreement aimed at reducing tensions, addressing Iran’s nuclear programme, easing sanctions, and restoring regional stability.
Iran’s Commitments
- Pledges to never produce nuclear weapons.
- Maintain the status quo on its nuclear programme during negotiations.
- Reportedly agreed to down-blend (dilute) highly enriched uranium under supervision of the International Atomic Energy Agency.
- Restore pre-war shipping traffic through the Strait of Hormuz within 30 days.
U.S. Commitments
- Facilitate release of frozen Iranian assets.
- Support an economic development plan worth $300 billion.
- Lift sanctions on:
- Crude oil exports.
- Petrochemical products.
- Financial and banking services.
- Remove naval blockade and reduce military presence in surrounding areas.
- Commit to lifting primary and secondary sanctions under a final agreement.
Other Features
- Mutual commitment to respect sovereignty and territorial integrity.
- Call for an immediate and permanent end to regional hostilities, including in Lebanon.
- Further negotiations to address:
- Fate of Iran’s enriched uranium stockpile.
- Future nuclear enrichment rights.
- Long-term sanctions relief.
Key Flashpoint: Nuclear Enrichment
- Iran maintains that peaceful nuclear enrichment is its sovereign right.
- The U.S. has sought zero enrichment on Iranian soil.
- This remains the most contentious issue for the final agreement.
Strait of Hormuz
- Connects the Persian Gulf with the Gulf of Oman and the Arabian Sea.
- One of the world’s most important oil transit chokepoints.
- A significant share of global crude oil and LNG trade passes through it.
Prelims Facts
- IAEA = International Atomic Energy Agency.
- Strait of Hormuz lies between Iran and Oman.
- Iran possesses significant stocks of highly enriched uranium.
- Nuclear enrichment involves increasing the concentration of the fissile isotope Uranium-235 in uranium fuel.
[2023]Consider the following statements:
Statement-IIndia, despite having Uranium deposits, depends on coal for most of its electricity production.
Statement-II:Uranium, enriched to the extent of at least 60%, is required for the production of electricity.
Which one of the following is correct in respect of the above statements
[A] Both Statement-I and Statement – II are correct and Statement- II is the correct explanation for Statement- I
[B] Both Statement I and Statement II are correct and Statement-II is not the correct explanation for Statement-I.
[C] Statement- I is Correct but Statement-II is incorrect.
[D] Statement-I incorrect but Statement-II is correct.