The draft text presented on Wednesday seeks formal United Nations approval for the hard-won, ground-breaking agreement reached in Vienna on Tuesday after 18 days of talks.
The resolution will endorse the accord and “take other important steps, including replacing the existing Security Council sanctions architecture with the new, binding restrictions agreed on in Vienna”, Power said in a communique.
Here’s how it works: If one of the parties to the nuclear deal, like the United States, determines that Iran is not fulfilling its commitments, it can ask for a Security Council vote on a resolution to continue the deal’s lifting of all Iran sanctions resolutions.
“The agreement is concluded”, a diplomat close to the discussions said on Tuesday in the Austrian capital, where a final ministerial meeting between Iran and the world powers was under way to adopt the deal.
The resolution was circulated to all council members Wednesday by the United States.
However, the deal also sets out a so-called “snapback” mechanism to put the old sanctions back in place.
It also calls on countries to monitor the Iran deal by inspecting all cargo to and from Iran if they suspect it contains items that violate the nuclear deal.
The almost 100-page accord, announced today, aimed to keep Iran from producing enough material for an atomic weapon for at least 10 years and imposed new provisions for inspections of Iranian facilities, including military sites.
Under the agreement, major economic sanctions could be lifted later this year if Tehran complies with the principal requirements in the agreements.
The United Nations has a committee charged with supervising adherence to the sanctions on Iran, which this year is presided over by Spain.
But United States officials believe some U.N. members with veto-power are looking to add an additional five years to that “snap back” mechanism.