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BARJAM/JCPOA Updates and News
#1
Big update from the EU as a result of the joint meeting in Vienna yesterday:

"The Joint Commission was chaired, on behalf of the EU High Representative Federica Mogherini, by EEAS Secretary General Helga Schmid and was attended by the E3+2 (China, France, Germany, Russia, United Kingdom) and Iran at the level of Political Directors/ Deputy Foreign Ministers.

In view of recent concerning statements and developments, participants recalled the key importance of continued full and effective implementation of the agreement by all sides. At the same time, participants recalled that the lifting of sanctions is an essential part of the agreement and reviewed their respective commitments in this regard. 

France, Germany and the United Kingdom informed participants that INSTEX had been made operational and available to all EU Member States and that the first transactions are being processed. Ongoing complementary cooperation with the Iranian corresponding entity (STFI), which has already been established, will speed up. 

They confirmed that some EU Member States were in the process of joining INSTEX as shareholders, the special purpose vehicle aimed at facilitating legitimate business with Iran. They are also working to open INSTEX to economic operators from third countries."

https://eeas.europa.eu/headquarters/head...ve-plan_en

Iran's Deputy Foreign Minister Abbas Araqchi: "It was a step forward, but it is still not enough and not meeting Iran's expectations. I don't think the progress made today will be enough to stop our process but the decision will be made in Tehran."

The countries that set up INSTEX have said that it would be "initially focusing on the sectors most essential to the Iranian population - such as pharmaceutical, medical devices and agrifood goods."

Araqchi said on Friday that INSTEX would need to expand to cover a wider range of goods in order to satisfy Iran. "For INSTEX to be useful for Iran, Europeans need to buy oil or consider credit lines for this mechanism otherwise INSTEX is not like they or us expect," he said.

https://www.aljazeera.com/news/2019/06/n...08104.html

[Meanwhile, China's delegate at the talks, Fu Cong, said Beijing would continue to import Iranian oil despite Washington's sanctions on Tehran.

"We reject the unilateral imposition of sanctions," he said. "For us, energy security is important and the importation of Iranian oil is important to Chinese energy security and also the livelihood of the people."]


It will be interesting to see how long it takes for the first actual transactions to be conducted using INSTEX and how Iran responds because the 60 day deadline ends soon (July 7th). If there are real transactions using INSTEX in the coming days (even for medicine or agricultural products - these are large parts of Iranian imports from EU) then Iran should not react so strongly and perhaps make a new deadline for INSTEX to be used for oil trade too 'okay you made INSTEX and we saved humanitarian trade, took you a long time but okay well done good job, now fix it for oil trade within 1-2 months".
#2
I am glad to be mistaken. I hope it is not too little too late. Finally something done by these...
#3
"Russia says the signatories to the 2015 nuclear deal with Iran are seeking to introduce measures that will enable Tehran to resume exports of low enriched uranium and heavy water despite US sanctions.

"In the context of the Joint Comprehensive Plan of Action, the JCPOA’s nuclear aspects, experts from the member nations have been tasked to elaborate practical measures to make it possible for Iran to export low enriched uranium and heavy water in bypassing the US sanctions," the Russia Foreign Ministry said.

The statement added that the remaining signatories to the nuclear agreement - Britain, Germany, France, Russian, China - had stressed the need to support Iran's nuclear activities as part of upholding the JCPOA, specifically in matters related to the production and export of Iran's low enriched uranium and heavy water."

https://www.presstv.com/Detail/2019/06/2...ed-uranium
#4
Russia shows interest in joining INSTEX system:

"Sergey Ryabkov told reporters on Friday that it is important for other countries to take advantage of the system alongside the founding members and European states.

Describing launch of INSTEX as a beginning of a road, Ryabkov hoped that the number of countries doing business with Iran via the system would soon increase."

https://en.irna.ir/news/83373790/Russia-...oin-INSTEX
#5
Very good if concrete results follow..
#6
This is a good idea to kickstart transactions and circumvent the limitations of the barter-based system of INSTEX in the short-term:

"The governor of the Central Bank of Iran (CBI) has proposed that a financial mechanism initiated by European powers to circumvent US sanctions on Iran, known as Instex, could be funded by future sales of Iran’s oil so that trade between Tehran and Europe can continue.

Abdol-Nasser Hemmati said on Sunday that if Britain, France and Germany want to make Instex more stable and functioning, an “interim, negotiable solution” could be for them to set up a long-term credit line for buying oil from Iran and use the capital to settle payments for trade.

Hemmati admitted that the three countries had some reservations for purchase of oil from Iran for the time being as the United States continues to pressure them to cut crude import from the country to zero. However, he said that European powers have proposed a similar solution for linking Instex payments to income driven from future oil purchases from Iran.

Under Instex, which is exclusive to European businesses, exports to Iran should be compensated by imports from the country. A mirror company in Iran would carry out the same transactions for Iranian companies exporting to and importing from Europe."

https://www.presstv.com/Detail/2019/06/3...-oil-money
#7
300kg limit on LEU officially breached today according to reports, interesting to see how the EU responds


(shouldn't respond too harshly because this isn't a hugely disproportionate measure, if Iran starts enriching to 20% this Sunday that would be a more drastic measure that could kill the JCPOA, but I expect the JCPOA to survive this)
#8
France holds great hopes in INSTEX. I belive Iran should not play foul now. Gettig INSTEX to run is not that easy. Once it works, it can be expanded for oil imports.
#9
(07-01-2019, 05:27 PM)Aristide Wrote: France holds great hopes in INSTEX. I belive Iran should not play foul now. Gettig INSTEX to run is not that easy. Once it works, it can be expanded for oil imports.
Why should Iran uphold JCPOA obligations just for privilege of importing humanitarian goods (food, medicine) which are not sanctioned anyway? Doesn't make sense.

EU has wasted over a year and only now instex is apparently starting to work.

If it can be expanded to oil trade and open for third countries in the very near future (next few weeks) then it's worth it for Iran.

History shows that the EU buckles under pressure from the US, so it would be a mistake for Iran to rely on the EU.
#10
(07-01-2019, 06:39 PM)Persian Gulf Wrote: Why should Iran uphold JCPOA obligations just for privilege of importing humanitarian goods (food, medicine) which are not sanctioned anyway? Doesn't make sense.

EU has wasted over a year and only now instex is apparently starting to work.

If it can be expanded to oil trade and open for third countries in the very near future (next few weeks) then it's worth it for Iran.

History shows that the EU buckles under pressure from the US, so it would be a mistake for Iran to rely on the EU.


We are your only hope and you know that. Currently the only thing that stands between Iran and a massive american attack, is France, Germany and UK.

And you dont know history obviously. Where did we buckle regarding Cuba sanctions? Infact we made it illegal for european companies to follow american sanctions. INfact Cuba still exist, because we crushed the americans anctions out.


France for teh most part is known to follow a very strict level of independend politics. That does not mean we support Iran in evry aspect.
  
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