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Will Tehran Be Given Access to the U.S. Dollar?

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Although the Iran nuclear deal went into effect on January 16—Implementation Day,” in the wonky parlance of what’s officially called the Joint Comprehensive Plan of Action (JCPOA)—it’s becoming increasingly clear that the U.S. and Iran don’t quite agree on what the landmark accord actually requires them to do.

This is partially by design. To its supporters, the genius of the JCPOA lies partially in the document’s elasticity: the agreement is notably cagey about what constitutes a violation of the deal, leaving an eight-member joint commission to resolve any disputes over compliance. The deal isn’t legally binding, and even supersedes a series of United Nations Security Council resolutions meant to restrain Iran’s nuclear program. Much is left to interpretation and diplomacy. It’s up to a future U.S. president—and to his or her Iranian counterparts—to decide, for instance, what kind of additional, non-nuclear sanctions against the Islamic Republic, or what kind of Iranian ballistic missile activity, falls within the letter and spirit of the deal.

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