--- title: What You Should Know About the Iran Nuclear Deal | TIME description: Iran reached a nuclear deal with world leaders. Now what? Here's what you need to know. canonical: https://time.com/video/QjQJizp7/ og:title: What You Should Know About the Iran Nuclear Deal og:description: Iran reached a nuclear deal with world leaders. Now what? Here's what you need to know. og:url: https://time.com/video/QjQJizp7/ og:image: https://cdn.jwplayer.com/v2/media/QjQJizp7/poster.jpg?width=720 og:type: video.other twitter:card: summary_large_image twitter:title: What You Should Know About the Iran Nuclear Deal twitter:description: Iran reached a nuclear deal with world leaders. Now what? Here's what you need to know. twitter:image: https://cdn.jwplayer.com/v2/media/QjQJizp7/poster.jpg?width=720 --- # What You Should Know About the Iran Nuclear Deal > Sponsored content. Supplied in partnership with TIME. 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They are at time.com/newsletters and are separate from a paid subscription. ## Video: What You Should Know About the Iran Nuclear Deal [Watch (HLS stream): What You Should Know About the Iran Nuclear Deal](https://cdn.jwplayer.com/manifests/QjQJizp7.m3u8) (2:59)  _Published 2013-11-25. Iran reached a nuclear deal with world leaders. Now what? Here's what you need to know._ --- Jul 27, 2023 3:57 PM UTC --- ## More From This Series [All Videos](https://time.com/video/) [Iran Increases Uranium Enrichment Beyond Nuclear Deal Limits](/video/JOL83A2D/) ### Iran Increases Uranium Enrichment Beyond Nuclear Deal Limits [Trump to Iran: Don't Restart Your Nuclear Program](/video/expajR9y/) ### Trump to Iran: Don't Restart Your Nuclear Program [Iran Just Threatened to Restart Its Nuclear Program if the U.S. Continues With Sanctions](/video/qXeY9Yg2/) ### Iran Just Threatened to Restart Its Nuclear Program if the U.S. Continues With Sanctions --- ## Transcript [ MUSIC ] In Geneva this weekend, Iran agreed to a historic new deal with Western powers over its nuclear program. Here's what the deal entails. [ SOUND ] Iran has agreed to stop enriching uranium beyond 5 %. [ MUSIC ] It will take its stockpile of 20 % uranium and neutralize it, or turn it into a substance that can no longer be enriched any further. Enriching up to 90 % is considered necessary to create a nuclear weapon. Iran will also stop installing any new centrifuges, which are required to enrich uranium And it will stop construction on a new heavy water reactor that is meant to create plutonium which is another material used for nuclear weapons. Iran has also agreed to allow international inspectors almost unchecked rights to go into its nuclear facilities and take a look at what's going on there. [ MUSIC ] In exchange, Western powers have agreed to relax some of the economic sanctions on Iran. The economic impact of this relaxation, is estimated at seven to $ 8 billion. But Iran will not be allowed to freely export its oil. And therefore the impact of these relaxations on international oil prices is not expected to be large. The relaxation has been received very well in Iran, the, the value of Iranian currency went up as soon as the deal was announced. And both hardliners as well as liberals within the Iranian community have welcomed the deal. But there are caveats, the deal is only for six months. That gives the US and the other western powers the time, and opportunity to negotiate a permanent settlement. Which would, basically require Iran to give up most of its nuclear program. At the moment, that is not on the table. Israel, which has been opposed to a deal right from the beginning. Which wants, [ MUSIC ] Iran to give up all its nuclear ambitions has protested against this deal. Some of the Gulf Arab countries like Saudi Arabia are also thought to be very opposed to any kind of deal with Iran. In the US, there are elements both within President Obama's Democratic Party but certainly much moreso in the Republican Party That feel the President went too far in making these concessions. There's one area of disagreement even after the deal has been struck. Iran takes the deal to mean that the world, and particularly the Western world, has now acknowledged its right to enrich uranium at least up to 5 %. but U. S. Secretary of State John Kerry has said that the deal does not recognized Iran's right to enrich and that is something that will continue to be discussed in pass over the weeks to come. The next phase on the negotations begin almost immediately but Iran and the West now have a breething space of six months. ```json {"@context":"https://schema.org","@type":"VideoObject","name":"What You Should Know About the Iran Nuclear Deal","description":"Iran reached a nuclear deal with world leaders. Now what? 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