World powers are close to an agreement with Iran on a sequenced return to the 2015 nuclear accord to be implemented over a period of months, with relief for reeling global oil markets unlikely to come overnight.
Negotiators are finalizing a timeline for reactivating the agreement, which will begin with minimal measures by both sides while the Biden administration puts the plan before Congress, which will eventually need to approve relief on oil sanctions, two people familiar with the talks said, declining to be named as the details have yet to be made public. A deal could be announced within days.
A European official with knowledge of the negotiations said it would take a couple of months from agreement for Iranian oil exports to resume.
