Iran Ends Key Nuclear Commitments

Iran is officially ending one of its key commitments to the 2015 nuclear deal, local media reported Wednesday, citing a senior official at the country’s Atomic Energy Agency.

A “program has been launched” to stop some of Iran’s obligations on orders from the country’s Supreme National Security Council, the Iranian Students’ News Agency reported.


West Texas Intermediate graph

The official, who was not named, highlighted suspension of compliance with the nuclear deal’s cap on enriched uranium and heavy water production.

Iranian President Hassan Rouhani announced last week Tehran’s plans to abandon some of its commitments under the deal, officially known as the JCPOA (the Joint Comprehensive Plan of Action), in the face of crippling U.S. sanctions and the President Donald Trump administration’s “maximum pressure campaign.”

If Europe does not step in to protect Iran from those sanctions within 60 days, Rouhani said — salvaging trade with its oil and banking sectors in violation of U.S. rules — the country would return to higher levels of uranium enrichment, which would potentially pave the way for bomb-making capabilities.

via CBNC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza