AIRLINK 73.18 Increased By ▲ 0.38 (0.52%)
BOP 5.00 Decreased By ▼ -0.06 (-1.19%)
CNERGY 4.37 Increased By ▲ 0.04 (0.92%)
DFML 29.95 Decreased By ▼ -0.57 (-1.87%)
DGKC 91.39 Increased By ▲ 5.44 (6.33%)
FCCL 23.15 Increased By ▲ 0.80 (3.58%)
FFBL 33.50 Increased By ▲ 0.28 (0.84%)
FFL 9.92 Increased By ▲ 0.14 (1.43%)
GGL 10.35 Decreased By ▼ -0.05 (-0.48%)
HBL 113.01 Decreased By ▼ -0.61 (-0.54%)
HUBC 136.28 Increased By ▲ 0.08 (0.06%)
HUMNL 9.60 Decreased By ▼ -0.43 (-4.29%)
KEL 4.78 Increased By ▲ 0.12 (2.58%)
KOSM 4.72 Increased By ▲ 0.32 (7.27%)
MLCF 39.89 Increased By ▲ 1.54 (4.02%)
OGDC 133.90 Increased By ▲ 0.50 (0.37%)
PAEL 28.85 Increased By ▲ 1.45 (5.29%)
PIAA 25.00 Increased By ▲ 0.24 (0.97%)
PIBTL 6.94 Increased By ▲ 0.39 (5.95%)
PPL 122.40 Increased By ▲ 1.19 (0.98%)
PRL 27.40 Increased By ▲ 0.25 (0.92%)
PTC 14.80 Increased By ▲ 0.91 (6.55%)
SEARL 60.40 No Change ▼ 0.00 (0%)
SNGP 70.29 Increased By ▲ 1.76 (2.57%)
SSGC 10.42 Increased By ▲ 0.09 (0.87%)
TELE 8.85 Decreased By ▼ -0.20 (-2.21%)
TPLP 11.32 Increased By ▲ 0.06 (0.53%)
TRG 66.57 Increased By ▲ 0.87 (1.32%)
UNITY 25.20 Decreased By ▼ -0.05 (-0.2%)
WTL 1.55 Increased By ▲ 0.05 (3.33%)
BR100 7,674 Increased By 40.1 (0.53%)
BR30 25,457 Increased By 285.1 (1.13%)
KSE100 73,086 Increased By 427.5 (0.59%)
KSE30 23,427 Increased By 44.5 (0.19%)

European powers took their first step on Tuesday towards punishing Iran for breaking its nuclear agreement, triggering the deal's mechanism to resolve breaches. The foreign ministers of Britain, France and Germany, plus the foreign affairs chief of the European Union, said in a statement that Iran was "pursuing activities inconsistent with its commitments" under the deal, known as the JCPoA. "These compliance issues must be addressed within the framework of the JCPoA, and a Joint Commission should be convened urgently," they said.
The three European powers are the remaining Western signatories to Iran's 2015 nuclear agreement, which was abandoned by the United States last year. Convening a joint commission of signatories - the Europeans plus Russia and China - is the first step in a process foreseen in the agreement that could eventually lead to a "snapback", bringing back the international sanctions lifted by the deal.
"Iran has stated that it wants to remain within the JCPoA. It must act accordingly by reversing these activities and returning to full JCPoA compliance without delay," the European countries said. The 2015 agreement between Iran and world powers offered Iran access to world trade in return for agreeing to curbs on its nuclear programme.
The future of the pact has been in doubt since last year when the United States pulled out of it and reimposed unilateral sanctions. Iran has said it wants to continue to abide by the agreement but cannot do so indefinitely if US sanctions prevent it from receiving any of the promised economic benefits. The deal's fate has come to a head in the past 10 days, after Iran announced steps that were in violation of its central commitments - it announced that it had amassed more enriched uranium than allowed under the agreement and said it had refined uranium to a higher purity.
Tehran argues that its steps are permitted under the deal as a response to US non-compliance. It has said it could take new steps in 60 days, including restarting dismantled centrifuges and purfiying uranium to a sharply higher threshold.

Copyright Reuters, 2019

Comments

Comments are closed.