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TEXT-US fact sheet on preliminary deal with Iran

Reuters - November 23rd, 2013

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Following are key portions of the text of a U.S. fact sheet on the agreement:

- Iran has committed to halt enrichment above 5 percent and dismantle the technical connections required to enrich above 5 percent.

- Iran has committed to neutralize its stockpile of near-20 percent uranium; dilute below 5 percent or convert to a form not suitable for further enrichment its entire stockpile of near-20 percent enriched uranium before the end of the initial phase.

Iran has committed to halt progress on its enrichment capacity:

- Not install additional centrifuges of any type

- Not install or use any next-generation centrifuges to enrich uranium.

- Leave inoperable roughly half of installed centrifuges at Natanz and three-quarters of installed centrifuges at Fordow, so they cannot be used to enrich uranium

- Limit its centrifuge production to those needed to replace damaged machines, so Iran cannot use the six months to stockpile centrifuges

- Not construct additional enrichment facilities.

Iran has committed to halt progress on the growth of its 3.5 percent stockpile:

- Not increase its stockpile of 3.5 percent low enriched uranium, so that the amount is not greater at the end of the six months than it is at the beginning, and any newly enriched 3.5 percent enriched uranium is converted into oxide.

Iran has committed to no further advances of its activities at Arak and to halt progress on its plutonium track. Iran has committed to:

- Not commission the Arak reactor.

- Not fuel the Arak reactor.

- Halt the production of fuel for the Arak reactor.

- No additional testing of fuel for the Arak reactor.

- Not install any additional reactor components at Arak.

- Not transfer fuel and heavy water to the reactor site.

- Not construct a facility capable of reprocessing. Without reprocessing, Iran cannot separate plutonium from spent fuel.

Iran has committed to:

- Provide daily access by IAEA inspectors at Natanz and Fordow. This daily access will permit inspectors to review surveillance camera footage to ensure comprehensive monitoring.

"Without reprocessing, Iran cannot separate plutonium from spent fuel.Iran has committed to:- Provide daily access by IAEA inspectors at Natanz and Fordow"This access will provide even greater transparency into enrichment at these sites and shorten detection time for any non-compliance.

- Provide IAEA access to centrifuge assembly facilities.

- Provide IAEA access to centrifuge rotor component production and storage facilities.

- Provide IAEA access to uranium mines and mills.

- Provide long-sought design information for the Arak reactor. This will provide critical insight into the reactor that has not previously been available.

- Provide more frequent inspector access to the Arak reactor.

- Provide certain key data and information called for in the Additional Protocol to Iran's IAEA Safeguards Agreement and Modified Code 3.1.

Verification Mechanism

The IAEA will be called upon to perform many of these verification steps, consistent with their ongoing inspection role in Iran. In addition, the P5+1 and Iran have committed to establishing a Joint Commission to work with the IAEA to monitor implementation and address issues that may arise. The Joint Commission will also work with the IAEA to facilitate resolution of past and present concerns with respect to Iran's nuclear program, including the possible military dimension of Iran's nuclear program and Iran's activities at Parchin.

Limited, Temporary, Reversible Relief

In return for these steps, the P5+1 is to provide limited, temporary, targeted, and reversible relief while maintaining the vast bulk of our sanctions, including the oil, finance, and banking sanctions architecture. If Iran fails to meet its commitments, we will revoke the relief.

Specifically the P5+1 has committed to:

- Not impose new nuclear-related sanctions for six months, if Iran abides by its commitments under this deal, to the extent permissible within their political systems.

- Suspend certain sanctions on gold and precious metals, Iran's auto sector, and Iran's petrochemical exports, potentially providing Iran approximately $1.5 billion in revenue.

- License safety-related repairs and inspections inside Iran for certain Iranian airlines.

- Allow purchases of Iranian oil to remain at their currently significantly reduced levels - levels that are 60 percent less than two years ago. $4.2 billion from these sales will be allowed to be transferred in instalments if, and as, Iran fulfills its commitments.

- Allow $400 million in governmental tuition assistance to be transferred from restricted Iranian funds directly to recognized educational institutions in third countries to defray the tuition costs of Iranian students.

Humanitarian Transactions

- Facilitate humanitarian transactions that are already allowed by U.S. law. Humanitarian transactions have been explicitly exempted from sanctions by Congress so this channel will not provide Iran access to any new source of funds. Humanitarian transactions are those related to Iran's purchase of food, agricultural commodities, medicine, medical devices; we would also facilitate transactions for medical expenses incurred abroad.

"In addition, the P5+1 and Iran have committed to establishing a Joint Commission to work with the IAEA to monitor implementation and address issues that may arise"We will establish this channel for the benefit of the Iranian people.

A Comprehensive Solution

- During the six-month initial phase, the P5+1 will negotiate the contours of a comprehensive solution. Thus far, the outline of the general parameters of the comprehensive solution envisions concrete steps to give the international community confidence that Iran's nuclear activities will be exclusively peaceful.

With respect to this comprehensive resolution: nothing is agreed to with respect to a comprehensive solution until everything is agreed to.

Over the next six months, we will determine whether there is a solution that gives us sufficient confidence that the Iranian program is peaceful. If Iran cannot address our concerns, we are prepared to increase sanctions and pressure. (Reporting by Justyna Pawlak; Editing by Peter Cooney)

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