This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Iran, US, Europe start implementing nuclear deal

Iran will also refrain from commissioning its under-construction 40 megawatt heavy water reactor in Arak, central Iran. That reactor can produce plutonium, another route to building a warhead.

Under the deal, the number of IAEA inspectors in Iran will "roughly double," said Tero Varjoranta, an agency deputy director general. That would increase the agency's presence on the ground to a maximum of eight inspectors in Iran at any time.

IAEA inspectors will have daily access to Iran's enrichment facilities, a senior diplomat familiar with details of the implementation plan said, speaking on condition of anonymity because he was not authorized to discuss details.

In exchange for the nuclear curbs, Iran receives a halt to new sanctions and easing of some existing sanctions. Measures targeting petrochemical products, gold and other precious metals, the auto industry, passenger plane parts and services will be lifted immediately.

The Geneva deal allows Iran to continue exporting crude oil in its current level, which is reported to be about 1 million barrels a day.

Senior U.S. administration officials have put the total relief figure at some $7 billion of an estimated $100 billion in Iranian assets in foreign banks. Iran is to receive the first $550 million installment of $4.2 billion of its assets blocked overseas on Feb. 1.

Iran's hard-liners have called the deal a "poisoned chalice", highlighting the difficult task President Hasan Rouhani faces in selling the accord to skeptics.

Hard-line media denounced the bargain. The Vatan-e-Emrooz daily printed in black Monday instead of its usual colors, a sign of sorrow and mourning. It declared the deal a "nuclear holocaust" and called it a gift to Israel's Prime Minister Benyamin Netanyahu.

"Today, Netanyahu is the happiest person in the world," it said.

However, the Israeli prime minister has made the opposite argument: He says the deal gives Iran too much for too few concessions.

3 of 4

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,614.81 +215.14 1.31%
S&P 500 1,941.28 +37.27 1.96%
NASDAQ 4,419.4780 +103.4040 2.40%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs