00:00First of all, I think it's a great day for the American people, because what this deal does fundamentally is
00:04two things.
00:05It immediately reopens the Straits of Hormuz. We're already seeing in the past 24 hours more traffic flow.
00:11You see oil prices coming down, but you also have the long-term commitment that Iran will never develop or
00:17procure a nuclear weapon.
00:18Those are two very big wins for the American people.
00:20I think the important thing to understand is that the agreement is fundamentally built around a two-step verification process.
00:26We say to the Iranians, you are welcome to have access to an unsanctioned economy.
00:32You're welcome to be re-invited into the world economy, but only if you honor the commitments that you make
00:38in this agreement.
00:39So that's the leverage point and simultaneously the enforcement mechanism we have over their nuclear program.
00:45And if you step back, the last point that I'd make about this is that we have affirmatively and comprehensively
00:51destroyed their nuclear program
00:52from what we've done over the last year and a half in the Trump administration.
00:55What this agreement does is say to the Iranians that you don't have access to the money to rebuild that
01:01nuclear program,
01:02but if you're willing to give up that program long-term, if you're willing to accept the inspections and verification
01:09regime
01:10that's necessary to give us the confidence you're never going to have a nuclear weapon,
01:14then we want you to be a prosperous country, and we will re-invite you into the community of nations.
01:18And that's fundamentally the two-step process, the choice the Iranians have to make.
01:23Do they want access to the world economy?
01:26If so, they're going to have to give up the long-term nuclear ambition.
01:29If they don't want access to the world economy and they don't give up that ambition,
01:34they're never going to have the resources to rebuild it from where it is today.
01:37So it's a big win for the American people, and I think the Iranians fundamentally have a good choice here
01:42in front of them
01:43whether to be a normal country or whether to be a country that continues to be to pursue a nuclear
01:49weapon,
01:49which they now have no capacity to do.
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