P5+1 talks with Iran

Iran's President Hassan Rouhani has said that progress made in nuclear talks means a final deal can be reached. That will leave Iran and P5+1 major powers just one week to meet a March 31 deadline for agreeing the outlines of a deal that they hope will end a 12-year standoff.The highly complex mooted agreement, due to be finalised by July, is aimed at convincing the world that Iran will not build nuclear weapons under the guise of its civilian programme.

The P5+1 is a group of six world powers which in 2006 joined the diplomatic efforts with Iran with regard to its nuclear programme. They include permanent members of UN Security Council, namely US, UK, Russia, China, and France plus Germany. In 2006, the UN Security Council imposed sanctions after Iran refused to suspend its uranium enrichment program. The sanctions bring difficulties to Iran's $483 billion, oil-dominated economy. Iran may be annually losing as much as $60 billion in energy investment.

Meanwhile, Congressional Democrats have given Obama a March 24 deadline to reach a framework agreement. At that point, they will join Republican colleagues to consider increasing sanctions on Iran. Obama has asked Congress to hold off on new sanctions until after the deadline for a comprehensive agreement in June.Earlier this month, 47 Republican senators warned Iran's leaders that any deal on Tehran's nuclear programme could be revoked once Mr Obama leaves office.

Iran wants an industrial-scale nuclear fuel production programme with 1,90,000 centrifuges. The US wants the current number of machines —19,000 with 10,000 running — reduced to under 5,000. The two sides also disagree on the duration of a comprehensive deal. Iran has said the agreement should last fewer than 10 years, while the Obama administration has said 20.