May 23, 2019
Finance

Iran says it will halt some commitments to nuclear deal

Iran said Wednesday that it would stop complying with parts of the 2015 nuclear deal and threatened to resume high-level enrichment of uranium in response to the U.S. withdrawal from the agreement last year.

Speaking live on Iranian television, President Hassan Rouhani said other signatory countries to the Joint Comprehensive Plan of Action (JCPOA) — Britain, France, Germany, China and Russia — should deliver on their promises to protect Irans oil and banking sectors from U.S. sanctions within the next 60 days.

“If the five countries came to the negotiating table and we reached an agreement, and if they could protect our interests in oil and banking sectors, we will go back to square one (and will resume our commitments),” Reuters reported Rouhani as saying.

The European Union is also a signatory to the deal.

Tehrans move — made under a dispute resolution mechanism in the JCPOA — comes amid rising tensions with the U.S. over the controversial deal. U.S. President Donald Trump last year pulled out of the accord and reimposed economic sanctions on Iran.

U.S. Secretary of State Mike Pompeo canceled a trip to Germany Tuesday and instead made an unscheduled stop in Iraq, telling reporters as he flew to Baghdad that he was heading to the Iraqi capital because of reports that Iran wi “escalating their activity,” but did not provide any specifics, the Financial Times reported.

Iran will stop selling excess heavy water produced in the uranium enrichment process and will no longer swap enriched uranium for mined uranium yellow cake over the next two months — but would resume those commitments if world powers find a way for Iran to export its oil and handle bank transactions.

In his address, Rouhani said “the world should know that today is not the end of the JCPOA. These are actions in line with the JCPOA.”

He told ERead More – Source

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