Iran Nuclear Deal Falling Apart

Iran Nuclear Deal Falling Apart

Tuesday, EU powers accused Iran of “pursuing activities inconsistent with its commitments” under a Y 2015 nuclear deal and called for an urgent meeting of the parties to the agreement to discuss Tehran’s compliance.

Britain, Germany, France, Russia, China and Iran are the remaining parties to the deal – known as the Joint Comprehensive Plan of Action (JCPoA) – which was abandoned by the United States last year.

These compliance issues must be addressed within the framework of the JCPoA, and a Joint Commission should be convened urgently,” the foreign ministers of Britain, France and Germany, plus the European Union’s Top diplomat, said in a statement.

The European powers have not triggered a dispute resolution process contained in the deal yet.

Iran has stated that it wants to remain within the JCPoA. It must act accordingly by reversing these activities and returning to full JCPoA compliance without delay,” the European countries said.

The Y 2015 agreement offered Iran access to world trade through the lifting of most sanctions in return for agreeing to curbs on its nuclear program.

The deal’s fate has come to a head in the past 10 days, after Iran announced steps breaching its commitments, it announced that it had amassed more enriched uranium than allowed under the agreement and said it had refined uranium to a higher purity.

The Trump Administration argues that the deal agreed under his predecessor Barack Hussein Obama was too weak because some of its terms were not permanent and it omitted non-nuclear issues such as Iran’s ballistic missile program and regional policies.

President Trump’s hard-line policy is backed by Crude Oil-exporting Arab states in the Gulf, which consider Iran a foe and stand to gain from US sanctions that have removed Iranian Crude Oil from the market. Israel has also, repeatedly called on the European countries to reimpose sanctions.

The dispute took on a military dimension, with Washington accusing Tehran of attacks on ships in the Gulf. Last month Iran shot down a US drone, prompting President Trump to order retaliatory air strikes, then call them off.

Stay tuned…

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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