JCPOA Deal Taking Shape

Reuters has reported that a US-Iranian deal to revive the JCPOA is taking shape and a document has been drafted outlining the phases for implementation.

• The first phase would include the unfreezing USD$7 billion of Iranian funds in South Korean banks, the release of Western prisoners in Iran, but not the waiving of oil sanctions.
• Iran has reportedly backed down from demanding US guarantees it won't leave JCPOA again and is prepared to accept the lesser measure that Iran would be permitted to enrich Uranium up to 60% purity again in event of US breach of deal.
• The lifting of some sensitive sanctions may also require Iranian and US officials to interact directly and this would be likely to happen at the end of talks.