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Iran is moving towards a new reduction of its nuclear obligations

UNITED STATES, WASHINGTON (OBSERVATORY) — Iran will announce “today or tomorrow” a new reduction in its commitments to the international community in the nuclear field, despite diplomatic efforts to ease US sanctions, President Hassan Rouhani said on Wednesday.

Meanwhile, three European countries – France, Germany and Britain – are discussing with the Islamic Republic ways to preserve the international agreement reached in Vienna in 2015, which is threatened after the US unilaterally withdrew in May 2018 and reimposed a series of sanctions. Economic on Iran.

The effort is led by French President Emmanuel Macron, who is trying to persuade the United States to exempt Iran from some of its tough sanctions.

Considering that France’s diplomatic efforts to try to avoid new Iranian measures are unlikely to succeed before the deadline set by Tehran, Rouhani said at the cabinet on Wednesday that the declaration would focus on “details (…) of the third phase” of Iran’s strategy to curb The commitments it made in May, the Iranian presidency said in a statement.

The statement added that Rouhani discussed the progress of negotiations with Europe at the cabinet session. This solution will continue throughout the day and tomorrow, so we will take the third step in reducing our nuclear obligations.”

The Iranian president told parliament’s lower house of parliament on Tuesday that “the third phase of the reduction” of Iran’s commitments would take place as planned “in the coming days” unless other parties take a “significant” step toward his country, the official IRNA news agency reported.

Iran has responded with countermeasures to the US withdrawal from the Vienna agreement, which eased sanctions in return for curbing its nuclear program.

In July it announced that it had increased its stockpiles of enriched uranium beyond the limit set by the deal. It later announced that it had exceeded its maximum level of stockpile enrichment.

Iran has long threatened to carry out a third step by Friday unless other parties to the deal compensate for the impact of US sanctions in return for continued compliance.

– Oil Credit –

The Iranian news agency quoted earlier Iranian Deputy Foreign Minister Abbas Araghchi as saying that his country is ready to return to full implementation of the nuclear deal in return for a credit line of about 15 billion dollars currently being negotiated with the Europeans.

But Araghchi expressed doubts that such a plan could be approved by a deadline set by Iran to ease sanctions.

“The French proposal is about this,” Araghchi said, referring to the initiative of French President Emmanuel Macron. Araghchi, who was in Paris on Monday with a team of Iranian negotiators, confirmed that the talks centered on opening a credit line “with a budget of fifteen billion dollars for four months.”

The loans are worth a third of the value of Iran’s export earnings from oil derivatives in 2017, and will be repaid through future oil sales, according to a French diplomatic source.

Araghchi said Iran “will not return to full implementation of the nuclear agreement unless it can export its oil and receive its revenues in full.”

Araghchi also pointed to “clear differences” between the parties to the negotiations, ruled out that “the European countries can take an effective step until next Saturday,” and therefore “the third stage of reducing Iran’s nuclear obligations will enter into force in the said date.”

The Vienna agreement between Iran and major powers, including Russia and China, has lifted part of the international sanctions against Iran in exchange for strict restrictions on its nuclear program to prevent it from developing its nuclear weapons capability.

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