WHAT’S THE STORY
IRAN has announced it will no longer be in full compliance with the nuclear accord reached in 2015. Yesterday, the country’s president Hassan Rouhani said Iran will not keep to agreed limits of enriched uranium and heavy water.
In a tweet he added: “The EU/E3+2 will face Iran’s further actions if they cannot fulfil their obligations within the next 60 days and secure Iran’s interests.”
Stockpile limits for Iran’s enriched uranium were set at 300kg to ensure the country was never mere months away from building a bomb. Alongside the cap on heavy water the deal ensured “break-out time” – or the time the country would need to nuclearise – was increased to a year.
WHY DOES THE DEAL MATTER?
THE Joint Comprehensive Plan of Action (JCPOA), better known as the Iran nuclear deal, was reached four years ago in Vienna.
It was agreed between Iran, the EU and countries known as the P5+1, consisting of China, France, Germany, Russia, the United Kingdom and the United States.
In the deal sanctions were curbed in exchange for Iran to limit its nuclear plan.
Before 2015, joint sanctions crippled Iran’s economy, costing it more than $160 billion (£118bn) in oil revenue over a four-year period.
After reaching the accord, Iran has gained access to more than $100bn (£77bn) in frozen overseas assets and was allowed to resume trading in the international oil market.
In order to regain access to markets, Iran lowered its medium enriched uranium stockpile by 98% to 300kg, a figure which they were not allowed to exceed until 2031.
Enriched uranium is used to make reactor fuel but also nuclear weapons, and Iran had two facilities it used to separate the fissile isotope U-325.
Low-enriched uranium, which has a 3-4% concentration of the isotope, can be used in nuclear power plants while a higher weapons-grade uranium is 90% enriched.
The deal obliged Iran to keep the majority of its stockpile levels of enrichment at 3.67% as well as sell any surplus of the material.
WHAT CHANGED?
THIS decision to challenge the conditions of the landmark deal comes a year after US President Donald Trump announced returning sanctions on Iran.
Sanctions were reinstated on Iran, as well as states it trades with, by the US in November 2018.
European countries that took part in forging the initial deal – the UK, Germany and France – have all opposed the sanctions and have set up an alternative payment mechanism to help companies continue to trade with Iran.
WHAT HAPPENS NOW?
IRAN has stressed that its actions are legal within the terms of the JCPOA.
Iran has given the other signatories of the deal a window of 60 days for further diplomatic steps, before the Islamic Republic further abandons compliance with the deal.
It is possible the country will face increased sanctions.
If Iran is confirmed to have violated the deal, the UN and other sanctions would immediately be reinstated for 10 years with the possibility of a five-year extension.
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