Iran Threat To Nuke Deal As Exports, Revenues Face Collapse

As its crude exports slump and economic meltdown looms Iran has called on the EU to ‘uphold its obligations’ under the 2015 nuclear deal. But a restart of EU crude buying is unlikely; even takings by key customer China may be hostage to US trade talks.

Even Iran’s phlegmatic foreign minister Mohammad Javad Zarif looks to have run out of patience. One year on from the unilateral US abrogation of the 2015 nuclear deal known as the JCPOA, Iran has given the deal’s three European signatories, France, Germany and the UK, 60 days to “fulfill their obligations.”

In a televised address on 8 May – the first anniversary of the US withdrawal from the JCPOA – Iranian president Hassan Rohani said his country was scaling back compliance. The country has put on hold relinquishment of uranium and other nuclear materials.

In remarks clearly aimed at the so-called ‘EU-3’ he said Iran will resume enriching uranium to higher levels if its JCPOA counterparts don’t “fulfill their obligations” within 60 days. Mr Rohani sent a letter on 8 May to its six JCPOA counterparts (the others are China, Russia and the US), setting out Iran’s new position. (CONTINUED - 2392 WORDS)

DATA INSIDE THIS ARTICLE

chart Imports Of Iranian Crude And Condensate ('000 B/D)