by Bill O’Grady
On April 2, the P5+1 negotiating team and Iran announced a framework to deal with Iran’s nuclear program. The framework is a “roadmap” to establishing a final agreement in June. Negotiations on this issue have been underway for years; this framework could be a major step toward delaying Iran’s entry into the “nuclear club,” the group of nations that have nuclear weapons.
In this report, we will begin with a short history of Iran’s nuclear program. Next, we will review the details of the framework. The third part will address the broader policy issues surrounding Iran’s nuclear program. An analysis of the real issue, regional hegemony, will follow along with a review of the political factors of the deal. We will conclude with the potential market effects from this framework.
 P5+1 includes the U.S., U.K., France, Russia and China (the five permanent members of the U.N. Security Council), plus Germany.