Iranian 2015 Nuclear Deal: Iran wants 1600 sanctions lifted - all at once!

Iran 2015 nuclear deal - JCPOA


The discussions between Iran and the signatories to the JCPOA, Joint Comprehensive Plan of Action, also known as 2015 nuclear deal, continue in Vienna, the Austrian capital.

Although there was some speculation of a breakthrough last week, a new impasse appears to have emerged, according to Iranian news media.

Last week, Seyed Abbas Araghchi,Iran’s Deputy Foreign Minister, hailed the ongoing discussions as ‘serious interactions’. This week, however, Iran has hardened its position somewhat: it wants ‘other side’ do display what it called the ‘political will and seriousness’; it even issued a warning, ‘Otherwise, there will be no reason to continue negotiations.’

During President Trump’s term, the US had slapped Iran with 1600 sanctions, a staggering number in a period of little over two years.

Iran has demanded that 1600 sanctions should be lifted all at once, subjected to ‘verification’ by Iran and its closest allies.

Iran says that the Islamic Republic should be able to sign its oil contracts and export its oil, and transfer its revenues through banking channels to the country or consider other uses for it. In the banking sector, meanwhile, it should be able to perform its financial transactions through various financial channels. Only then can it be assured that the lifting of sanctions will have practical effects.

It is clear that Iran is desperate to sell its oil to earn revenue as a matter of urgency, along with the banking sector returning to normal functioning at international level.

As the US started picking on the companies and shipping firms caught up in sanction-busting activities, Iran’s options are slowly running out unless it shows some flexibility in the discussions over the JCPOA.

Both sides, meanwhile, agreed to extend the discussions and political analysts believe there will be a mutually acceptable solution in the end.

Crude oil analysts, meanwhile, take seriously into account Iran’s entry into crude oil markets at some point this year while making their future calculations; Iran has been producing oil at a record rate despite the sanctions in the hope it may see a day sans sanctions at some point.

 


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