* Iran has agreed it will not enrich uranium over five per cent for the six months.
* Iran has committed to neutralising its entire stockpile of uranium enriched to 20 per cent, which is close to weapons-grade and therefore a main area of concern.
Half of this will be diluted to five per cent or under. The rest will be oxidised so it can contribute to making fuel for a Tehran reactor that produces medical isotopes.
* Iran will build no new locations for enrichment, and halt progress towards commissioning a reactor at its Arak plant that would produce plutonium that could also be used in a nuclear bomb.
* Iran will not reprocess or construct a facility capable of reprocessing spent fuel from the Arak reactor in order to extract plutonium.
* Iran will allow daily site inspections by experts from the UN nuclear watchdog IAEA at two of its enrichment facilities — Fordo and Natanz — and hand over information about the design of its Arak reactor.
* The P5+1 powers and Iran will establish a “joint commission” to work with the International Atomic Energy Agency and monitor implementation of the agreement.
* In return, the P5+1 will ease sanctions in what the White House has described as a “limited, temporary, targeted, and reversible” manner to the tune of about $US7 billion, but the “vast bulk” of oil, finance and banking sanctions will remain in place.
* The UN Security Council and European Union will not impose any new nuclear-related sanctions for six months.
* They will suspend US and EU sanctions on Iran’s petrochemical exports and associated services such as insurance or transportation, and on gold and precious metals and associated services.
They will also suspend US trade restrictions on Iran’s auto industry and associated services and licence the supply and installation in Iran of spare parts for flight safety.
* An agreed amount of revenue from sanctioned Iranian oil sales held abroad will be repatriated.