This archive report was first published on 1 July 2019.
Iran has taken a significant step in its nuclear program, exceeding the 300-kilogramme limit on its enriched uranium reserves set under the 2015 nuclear deal. This move comes after the United States withdrew from the deal last year and re-imposed biting sanctions on Iran as part of its 'maximum pressure' campaign.
According to Iranian Foreign Minister Mohammad Javad Zarif, Iran had set out its intentions 'very clearly' in May, announcing that it would no longer respect the limit set on its enriched uranium and heavy water stockpiles. The EU had attempted to salvage the deal by setting up a special payment mechanism, known as INSTEX, but Zarif stated that 'the Europeans' efforts were not enough,' leading Iran to proceed with its announced measures.
INSTEX, which was finally 'operational' on Friday, is meant to help Iran skirt sanctions, especially to sell its oil. However, Zarif noted that 'INSTEX is just the beginning of (their) commitments, which has not been fully implemented yet.'
Iran's decision to exceed the enriched uranium stockpile limit has significant implications for the nuclear deal and the global community. The move is seen as a response to the US withdrawal from the deal and the re-imposition of sanctions.
