“We believe the fact that the indispensable role of the IAEA is recognized is a sound point of departure,” said Rafael Mariano Grossi, Director General of the International Atomic Energy Agency (IAEA), in reference to the reported text of the memorandum. “Now it's for us to sit down with our American colleagues, our Iranian colleagues and start formulating the concrete steps that will have to be taken. So, I think it's good that the memorandum is there. Now the technical work starts.”

According to media reports, the memorandum of understanding provides for a maximum of 60 days of negotiations to achieve a “final deal” on issues including uranium enrichment by Iran which must also reaffirm that it does not intend to develop a nuclear weapon.

Other requirements listed in the memorandum’s text include the reopening of the Strait of Hormuz to all shipping and an easing of US and UN Security Council sanctions on the Middle East nation.

The “immediate and permanent termination of military operations on all fronts, including in Lebanon” also features prominently in the first of 14 points of the memorandum.

Good faith talks

Speaking at the UN in Geneva, Mr. Grossi refused to speculate about spoilers “because we are about to start and we have to initiate any negotiation on the assumption that we are all in with faith, that we want to be successful”.

Responding to a question about a possible agreed reduction in the level of uranium enrichment by Iran, the IAEA chief noted that “many, many possibilities” could be explored.

“There are many different alternatives…There are different ranges of enrichment in the current Iranian inventory and we will see what is agreed.”

The agency’s access to all of Iran’s nuclear facilities is “not at a level and in all the locations it should be”, he stressed, but contact with the authorities is ongoing and the agency has “a pretty good idea” of the “specific things, places, that we need to access”.

Mr Grossi added: “It’s now, I’d say, that the technical work can start for real.”

The IAEA was established in 1957 to promote peaceful uses of nuclear energy. It is an autonomous part of the United Nations system – meaning that it is not under the direct control of the UN Secretariat – but instead reports to the UN General Assembly and Security Council.

The agency is based in Vienna and has 180 member countries; it is mandated to monitor nuclear facilities objectively, report on nuclear activities, oversee safety, promote peace through diplomacy and the use of nuclear technologies for good.