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General

Araghchi says Iran economy recovers from shock of US pullout from JCPOA

Beijing Iran's Deputy Foreign Minister Abbas Araghchi said in China on Saturday that Iranian economy has recovered from shock of the US withdrawal from Iran nuclear deal, the Joint Comprehensive Plan of Action.

Araghchi said that new mechanisms have been designed with economic partners, especially China for trade with the outside world.

The deputy foreign minister for political affairs arrived in Beijing on Saturday morning at the invitation of his Chinese counterpart for political consultations with the Chinese officials.

He told reporters upon his arrival in Beijing that new methods have been developed and stability is restored to Iran's economic relations with China. But there are some obstacles that need to be addressed to enhance economic relations to a higher level.

He said that his visit to Beijing is in the context of regular consultations with China and Russia since the beginning of the nuclear negotiations.

Araghchi said that the JCPOA is an international Agreement, and that due to inaction of the remaining signatories to the deal to honor their commitments after the US withdrawal, the deal is currently in a critical condition and Iran has not gain what it should have made.

Araghchi said that mutual and international issues will also be discussed with his Chinese counterpart. However, the issue of the JCPOA is top on the agenda.

Araghchi said that the meeting with his Chinese counterpart will be held at the Chinese Ministry of Foreign Affairs on Sunday.

Meanwhile, the JCPOA Arbitral body, the Joint Commission of the JCPOA will convene next week at the level of deputy foreign ministers to review bottlenecks in implementation of the JCPOA.

After the US withdrew from the deal, Iran observed a moratorium of one year providing a good chance for the three European signatories of the deal to make a proper decision for remedial action in return for the damages inflicted on Iran by the US damages.

Since Iran saw no appropriate measures by the Europeans, it decided to reduce its commitments to the deal as stipulated in Article 36 of the deal.

Iran reduced its commitments step by step with 60-day intervals to give the Europeans time to save the deal.

During these stages, Iran first surpassed the 300 kg cap on enriched uranium, then the enrichment level rose past 3.67% to 4.5%.

The third stage pushed Iran towards nuclear research and development R and D and now the fourth phase took the country to Fordow nuclear site that has been named after Martyr Masoud Ali Mohammadi, a nuclear scientist who was assassinated in Tehran in January 2010.

Under the JCPOA, enrichment at Fordow nuclear site was supposed to be stopped for 14 years. Inaction by European parties has made us move towards Fordow only after 3 years," said Behrouz Kamalvandi, Atomic Energy Organization of Iran (AEOI) spokesman.

Source: Islamic Republic News Agency - IRNA


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