This week's accord could result in little more than a return to a 1994 pact between America and North Korea, by which North Korea froze its operations at Yongbyon in return for fuel oil shipments and an agreement eventually to provide replacement nuclear reactors that could less easily be used to make weapons material.

ECONOMIST: Some cheer over North Korea

The EU banned oil imports from Iran starting in July and froze the assets of its Central Bank in EU nations.

CNN: STORY HIGHLIGHTS