Published: Sat, July 06, 2019
Global News | By Blake Casey

Europe Squeezed in US-Iran Nuclear Deal Dispute

Europe Squeezed in US-Iran Nuclear Deal Dispute

On Monday, Iranian state media reported that the country's uranium stockpile had exceeded the limit of 660 pounds.

The European Union has urged Iran to stick to the terms of the deal, but Tehran has said its commitment will gradually decrease until Britain, France and Germany can ensure that it benefits financially from the accord - Iran's main incentive for signing up to it.

Iranian officials have said that they want the SPV to be accompanied by another mechanism that gets around the USA sanctions that restrict the purchase of Iranian oil.

"Iran continues the (uranium) enrichment to supply its (needed) energy", Ayatollah Mohammad Ali Movahedi Kermani said, addressing worshippers in Tehran on Friday.

Addressing a cabinet session on Wednesday, President Rouhani made it clear that Tehran will take the next step in reducing its commitments to the Joint Comprehensive Plan of Action (JCPOA) if the remaining parties to the nuclear deal fail to take practical measures to guarantee Iran's interests.

"Be careful with the threats, Iran", President Trump wrote early Thursday on Twitter.

Rouhani dismissed the mechanism as "hollow", saying it was useless to Iran because it failed to provide for financing of purchases of Iranian oil.

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The Islamic republic believes because the USA violated an global treaty when it pulled out, other parties should have kept their side of the deal.

He described the INSTEX as a theatrical move by the Europeans, and said, "Today, INSTEX is just a mechanism empty of cash and an empty INSTEX is of no use at all, but if the INSTEX becomes operational and Iran's crude revenues can be retrieved through it, we can accept it to some extent irrespective of its shortcomings". Trump cited the Israeli findings in his decision, a month later, to quit the 2015 deal that had scaled down Iran's nuclear project.

In contrast to those who say that current tensions with Iran are rooted in the fact that the United States exited the nuclear deal previous year, the reality is that the problems are grounded in the flawed provisions of the JCPOA itself. The Europeans set up a special goal vehicle (SPV) called Instex with the intention of protecting trade with the Islamic Republic.

Iran has sought to pressure the other parties - Britain, China, France, Germany and Russian Federation - to save the deal. They've pointed to INSTEX, a trading vehicle that allows European and Iranian firms to send goods overseas and be paid locally to avoid American sanctions.

"INSTEX now operational, first transactions being processed and more EU Members States to join".

In the mean time Maryam Rajavi, Head of the National Council of Resistance of Iran said: Sanctioning Khamenei & his office, the epicenter of crime, corruption & terrorism in Iran is spot-on and most imperative.

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