Nine months of nuclear talks between Iran and a six-nation negotiating group failed to reach a comprehensive settlement by the 24 November deadline. Negotiations have now been extended until 30 June 2015, with the British foreign secretary stating that the aim is to reach a broad accord within three months.
The six nations involved in talks with Iran are China, France, Germany, Russia, the UK and US. These talks aim to curb Iran’s nuclear programme in return for the lifting of United Nations’ (UN) sanctions.
During this seven-month extension period the interim deal agreed last November under the Geneva Accord will continue to stand, which will see Iran continue to abide by restrictions to its nuclear programme. In exchange for curbing its nuclear programme under the interim accord, the country has received some of its frozen assets, such as oil revenues around the world.
British Foreign Secretary Philip Hammond said he expected that Iran would continue to receive about $700 million per month during the new extension of the deal.
Despite moving closer to an agreement, there are still gaps to be closed regarding the scale of Iran’s future nuclear programme and the speed of lifting further international sanctions.