Sunday 24 November 2013, it was announced that the P5+1 (the United States, United Kingdom, Germany, France, Russia and China, facilitated by the European Union) had reached an agreement with Iran regarding the latter’s nuclear program. According to each country’s statements the agreement is a success and everyone is a winner. But when have we ever witnessed an agreement of such kind?

Although the agreement is not officially published in full, we get a glimpse of some of its important features from the points that have been released in media. The least interesting thing about the “Nuclear agreement” is the nuclear issue.

For a non-democratic regime that faces strong opposition from within and which has been severely crippled by economic sanctions, the agreement proves to be a life-saving last solution- at least for six months. Under the agreement, a few of the economic sanctions are lifted. In return the regime will stay a live and in power as a de facto protectorate with minimal economic sovereignty still intact. The agreement places the major income source- the oil trade- under the control of the P5+1, by providing that Iran’s crude oil sales cannot increase in a six-month period, resulting in what is estimated to be about $30 billion  in lost revenues to the country. Further restrictions are placed on Iran’s access to its oil sales; on its foreign exchange holdings and on a number of other financial services. A regime that preaches fight against imperialism and “the West”, now finds itself in the peculiar situation where its survival rests precisely on “the West” and a new kind of economic imperialism resulting from the country’s lack of acknowledgement of international law and the rules of the game.

On the bright side, the agreement might have prevented a more serious conflict. But here we can only guess. What we can be certain about, however, is that any agreement where the world’s major powers are involved and where all are smiling has wider geopolitical significance than the nuclear issue.