Iran Energy News Oil, Gas, Petrochemical and Energy Field Specialized Channel
Related Articles
Iranian Foreign Minister Mohammad Javad Zarif announced in the Astana Club meeting on Tuesday that if Iran cannot reap the economic benefits of the Joint Comprehensive Plan of Action (JCPOA) definitely the other sides will suffer too.
Under the JCPOA. commonly called the Iran nuclear deal. Iran was tasked to limit its nuclear program in exchange for termination of economic and financial sanctions.
Addressing the participants. Zarif elaborated on Tehran’s logical reason to reduce its obligations under the JCPOA in response to the return of sanctions and a failure by the European Union to shield Iran from sanctions effect.
The U.S. not only abandoned the JCPOA and returned sanctions. it also added new harsh ones. including a total ban on Iran’s oil export.
“If those promises stipulated in the JCPOA regarding economic normalization are materialized. even to some extent. Tehran is prepared to show its goodwill and return to the previous conditions.“ Zarif stated.
He added. “If the JCPOA promises are not met. unfortunately Iran will continue its path (of reducing commitments).“
Zarif warned that the current approach taken toward Iran is a “zero-sum“ game which will be detrimental to all sides. “I emphasize again this is a zero-sum path which will end in loss for all. but we do not have any other way other than following the path.“
The chief diplomat went on to say that “Iran does not intend to produce atomic weapon but in the meantime. it will not compromise on its (nuclear) rights.“
Despite the U.S. exit from the Iran deal. Tehran remained fully compliant with the international document for a year. giving time to the remaining co-signatories to fulfill their legal undertakings and protect Iran’s economy against the U.S. bans.
Iran. however. began to gradually reduce its JCPOA commitments after the three European parties failed to put their verbal support for the deal into action.
The reciprocal measures are in compliance with paragraph 36 of the JCPOA which “allows one side. under certain circumstances. to stop complying with the deal if the other side is out of compliance.“
