The News That Matters about the Nuclear Industry

Iran would leave the nuclear deal if it brings no economic benefit

Iran threatens to leave nuclear deal ‘if no benefit’ IRAN has threatened to leave a landmark 2015 nuclear deal if the country doesn’t benefit economically and banks continue to give the Islamic Republic the cold shoulder.Reuters News Corp Australia Network FEBRUARY 23, 2018 IRAN will withdraw from the 2015 nuclear deal if there is no economic benefit and major banks continue to shun the Islamic Republic, its deputy foreign minister said overnight.

Under the deal with Britain, China, France, Germany, Russia and the United States, Iran agreed to restrict its nuclear program in return for the removal of sanctions that have crippled its economy.

Despite that, big banks have continued to stay away for fear of falling foul of remaining U.S. sanctions — something that has hampered Iran’s efforts to rebuild foreign trade and lure investment.

Adding to those concerns, US President Donald Trump told the Europeans on January 12 they must agree to “fix the terrible flaws of the Iran nuclear deal” or he would reimpose the sanctions Washington lifted as part of that pact.

But even if Mr Trump relents and issues fresh “waivers” to continue suspending those sanctions, the existing situation is unacceptable for Iran, Deputy Foreign Minister Abbas Araqchi said.

“The deal would not survive this way even if the ultimatum is passed and waivers are extended,” Araqchi, Iran’s lead nuclear negotiator, said in a speech at the Chatham House think tank in London.

“If the same policy of confusion and uncertainties about the JCPOA (Joint Comprehensive Plan of Action) continues, if companies and banks are not working with Iran, we cannot remain in a deal that has no benefit for us,” Mr Araqchi said. “That’s a fact.”……..


February 22, 2018 - Posted by | Uncategorized

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