Iran warns on nuke deal if banks cannot do business

LONDON: Iran’s top nuclear negotiator for its 2015 deal with international powers warned on Thursday that the agreement was under threat unless foreign businesses and banks were able to trade freely in the country.

Deputy foreign minister Abbas Araghchi told London’s Chatham House that US President Donald Trump’s hostility towards the Joint Comprehensive Plan of Action (JCPOA) was creating a “destructive atmosphere” that meant businesses were afraid of dealing with Iran. “As far as Iran is concerned, JCPOA is not a successful story,” he said.

“Iran is not benefiting from sanction lifting in full.” Iran is still sticking to the 2015 nuclear accord, a UN atomic watchdog report showed Thursday, even as US President Donald Trump’s May deadline to fix its “disastrous flaws” looms.

The International Atomic Energy Agency document, seen by AFP, showed Iran complying with the deal’s key parameters such as the number of uranium centrifuges and uranium stockpiles.Under the JCPOA, sanctions were lifted in return for a commitment not to pursue a nuclear bomb, but Iran claims it is not reaping the rewards despite complying with the deal.

The JCPOA was struck between Iran and Britain, China, France, Germany, Russia and the US, then led by Barack Obama. But Trump called it the “worst deal ever” and has demanded that European partners “fix the terrible flaws” or he would re-impose sanctions, although he has so far issued “waivers” upholding the deal.