Europe Plans Bank Accounts For Iran To Ease Repatriation Of Oil Revenues

Ali Akbar Salehi head of the Atomic Energy Organization of Iran said the factory doesn't break nuclear deal terms

Ali Akbar Salehi head of the Atomic Energy Organization of Iran said the factory doesn't break nuclear deal terms

Salehi said Iran was building the factory during negotiations that led to the 2015 nuclear agreement, but it was not operational.

The announcement on July 18 comes a day after Iran filed a lawsuit at the International Court of Justice (ICJ) against the United States in response to President Donald Trump's decision in May to pull his country out of the 2015 nuclear accord and reimpose sanctions on Tehran.

Reuters reported today that EIB President Werner Hoyer has said that while he supported European Union efforts to keep alive the 2015 deal which curbed Tehran's nuclear ambitions, Iran is a place "where we can not play an active role".

The factory is capable of producing some 60 rotors for the IR-6 enrichment centrifuges on a daily basis, according chief of the Atomic Energy Organization of Iran (AEOI) Akbar Salehi.

Iran and six global mediators reached an agreement on the nuclear program of Tehran in mid-July 2015.

In addition to announcing the continued purchases from Russian Federation and elsewhere, Salehi said Iran is also working on exploration to find additional resources inside the country to meet more uranium needs domestically.

Iran had been enriching uranium by 20 per cent before signing the deal, from which the United States has recently withdrawn.

This is arguably one of the most salient examples of persistent Iranian misbehavior, which may underscore the additional risks of violating USA sanctions for the sake of maintaining the status quo in European-Iranian relations.

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US President Donald Trump in early May unilaterally withdrew Washington from the multilateral nuclear deal that since early 2016 had shielded Iran from crippling sanctions and announced that Tehran would face the highest-level sanctions in a policy created to force the Iranians to the table to renegotiate the accord-although some observers claim Trump has an eye on causing enough economic havoc in Iran to prompt regime change.

The use of the more than 60-year-old long forgotten treaty between the two now enemy states is the latest out-of-left-field action undertaken by the Islamic Republic in its attempt at deploying all legal and official channels to counter U.S. economic aggression against the country.

The ICJ, which is based in The Hague and is also known as the World Court, is the United Nations tribunal for resolving worldwide disputes.

Meanwhile, Iran has called on the UN's top court to order the USA to immediately lift the re-imposed sanctions, claiming they are causing "irreparable prejudice", the tribunal said Tuesday.

The US and its Arab allies intend to sanction Iran in order to impose a high cost on the "regime" in Tehran against the alleged "malign behavior", Pompeo said in interviews during his Gulf visit.

A State Department official said the application was without merit and the United States would fight it in the court.

Iran has repeatedly warned that it would be forced to quit the deal if it did not receive the economic benefits envisioned by the JCPOA.

Iran is flirting with cryptocurrencies to alleviate these concerns by reducing American economic leverage, as the mullahs nervously eye their declining economy and wonder if the next protest movement might be too much for them to control.

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