Iran nuclear deal: Fine ’new chapter’ or ’historic mistake’?

VIENNA (AP) — Iran, the United States and other world powers struck a historic deal Tuesday to curb Iranian nuclear programs in an agreement aimed at easing the threat of a nuclear-armed Iran in the volatile Middle East. In exchange, Iran will get billions of dollars in relief from crushing international sanctions.

The accord, reached after long, fractious negotiations, marks a dramatic break from decades of animosity between the United States and Iran, countries that have called each other the “leading state sponsor of terrorism” and “the Great Satan.”

“This deal offers an opportunity to move in a new direction,” President Barack Obama declared at the White House in remarks that were carried live on Iranian state television. “We should seize it.”

In Tehran, Iranian President Hassan Rouhani said “a new chapter” had begun in his nation’s relations with the world. He maintained that Iran had never sought to build a bomb, an assertion the U.S. and its partners have long disputed.

Beyond the hopeful proclamations from the U.S., Iran and other parties to the talks, there is deep skepticism of the deal among U.S. lawmakers and Iranian hardliners. Obama’s most pressing task will be holding off efforts by Congress to levy new sanctions on Iran or block his ability to suspend existing ones.

House Speaker John Boehner, R-Ohio, predicted the deal would embolden Iran and fuel a nuclear arms race around the world. It will be difficult for congressional Republicans to stop Obama, however, because of his power to veto legislation.

Israel, which sees Iran as a threat to its existence, strongly opposes leaving the Islamic republic with its nuclear infrastructure in place. Israeli Prime Minister Benjamin Netanyahu, who has furiously lobbied against a deal, called the agreement a “stunning historic mistake.”

Economic effects could be substantial for both Iran and the world.

In trading Tuesday, benchmark U.S. crude oil prices were down. Iran is an OPEC member, but its oil production has been affected for years by sanctions over its nuclear program. Any easing of the sanctions could see Iran sell more oil, which could bring down crude prices.

Iran also stands to receive more than $100 billion in assets that have been frozen overseas and an end to various financial restrictions on Iranian banks.

The nearly 100-page accord announced Tuesday aims to keep Iran from producing enough material for an atomic weapon for at least 10 years and imposes new provisions for inspections of Iranian facilities, including military sites.