Tuesday on Lubbock's First News, Ambassador Tibor Nagy, Jr. discussed the recent efforts of the U.S. and Iran to come to an arms agreement.

Nagy listed the major characters in these agreements are Iranians, who have been dealing with the sanctions and are ready to show the public some results and Europeans, who would like to jump back in the market with Iran. He also listed the U.S., who is looking for stability in the Middle East and the Obama administration, who seeks to find a positive point after recent fiascoes. He continued, "The underlying motives now are that everybody is ready to make a deal."

The sanctions placed on Iran by the U.S. prevents them from making deposits overseas, keeps imports from reaching the population, and has frozen many of their assets, keeping them from collecting on oil that has already been sold. These sanctions are placing strains on much of the population. Nagy went on to briefly describe some demand and routes of oil.

Listen to the full interview:

Or listen on your mobile device: KFYO LFN Tibor Nagy November 12 2013 // KFYO.com