UN sanctions on Iran may be reimposed within days as it refuses to give-in to European demands that French diplomats have described as “reasonable and precise”.
As the UN General Assembly meets this week in New York, Iranian President Masoud Pezeshkian and Foreign Minister Abbas Araghchi have a last chance to try to stop the sanctions before a September 28 deadline for them to be reimposed.
Behind closed doors, three European countries – France, the UK and Germany – are hoping to engage in last-minute diplomatic talks with Iran, which has argued without success that the 2015 nuclear deal was made void by the US’s unilateral withdrawal in 2018.
“Though there is little time left, the possibility of an agreement still exists in the period of 30 days that is part of the snapback mechanism,” a French diplomatic source said. “It is up to Iran to seize the moment as fast as it can by offering the necessary concrete gestures in the next days.”
Iran appears to have been taken by surprise by the three countries' determination to reimpose UN sanctions that had been in place between 2007 and 2015 – the year the Joint Comprehensive Plan of Action deal was struck.
The aim of the deal was to stop Iran developing a nuclear weapon, by offering it incentives not to enrich uranium to weapons grade.
Iran insists it has no ambitions to have a nuclear bomb. But more than 70 Iranian parliamentarians have proposed a change in that doctrine, telling security chiefs that Israel has "reached the brink of madness".
A fatwa issued years ago by supreme leader Ayatollah Ali Khamenei forbids the use of nuclear weapons but "their production and retention as a means of deterrence is a separate matter," the members of parliament wrote in a letter published by Fars news agency.
Iranian isolation
At talks in Istanbul in July, Iranian negotiators irritated the Europeans by giving evasive answers to one of their most pressing demands – the location of 440kg of uranium enriched to 60 per cent, way above the level needed for civilian use.
Revealing the location, allowing inspections by the International Atomic Energy Agency and restarting direct talks with the US, are the three requirements of the three countries for Iran to avoid the return of sanctions.
These conditions have been framed as the only way to maintain a fragile regional peace. Iran appears increasingly isolated, after a 12-day war with Israel and the US in June that came six months after the toppling of regional ally, Syria’s former president Bashar Al Assad.
Negotiations appear deadlocked with Iran’s highest security body on Saturday saying that the return of sanctions will “effectively suspend” its co-operation with the IAEA. Iran has also threatened to withdraw from the non-proliferation arms treaty.
The offer from the European countries to extend the mechanism by six to eight months to give more time for negotiations appears to have fallen on deaf ears in Tehran. The Europeans were also unconvinced by a deal struck in Cairo two weeks ago between the IAEA and Iran, because it failed to give a clear timeline for the return of UN inspectors.
'Good cop, bad cop' strategy
Earlier this year, the Europeans appeared sidelined when indirect Iran-US talks were launched under Omani mediation. When they collapsed with the 12-day war, Iran was left with only Europeans to talk to, albeit at a lower protocol level, as it was not foreign ministers but their deputies or political advisers that met in Istanbul and Geneva.
“The Islamic Republic has always had a 'good-cop, bad-cop' strategy by trying to divide Europeans and Americans in negotiations,” said Clement Therme, from Saudi-based think tank the International Institute for Iranian Studies. “Now that Trump has bombed them, there’s only bad cops left.”
European foreign ministers have co-ordinated their moves towards the return of sanctions with the US and held several calls with Secretary of State Marco Rubio. “The Islamic Republic hoped that differences between Europe and the US on trade and Ukraine would influence their position on Iran,” Mr Therme said.
The prospect of the return of sanctions has contributed to a fall of the Iranian currency against the dollar. Iran’s Chamber of Commerce has predicted that inflation would rise from 50 to 90 per cent if the sanctions were reimposed. The economy is further strangled by a US embargo.
Ultimately, accepting the European offer of an extension of talks would allow Iran to remain in the diplomatic game, said Benjamin Hautecouverture, a nuclear expert at the Foundation for Strategic Research think tank in Paris.
“Europeans made a gesture that allowed Iran to continue to exist diplomatically,” Mr Hautecouverture said. “Instead of becoming a historic breaking point, the US bombing campaign hasn’t stopped the conversation from continuing on technical points like IAEA inspections. That in itself shows that there is still a chance for dialogue.”
MATCH DETAILS
Liverpool 2
Wijnaldum (14), Oxlade-Chamberlain (52)
Genk 1
Samatta (40)
UAE currency: the story behind the money in your pockets
The specs
Engine: 4.0-litre flat-six
Torque: 450Nm at 6,100rpm
Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
On sale: Available to order now
The specs: 2018 Nissan 370Z Nismo
The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
Torque: 374Nm @ 5,200rpm
Transmission: Seven-speed automatic
Fuel consumption, combined: 10.5L / 100km
How to get exposure to gold
Although you can buy gold easily on the Dubai markets, the problem with buying physical bars, coins or jewellery is that you then have storage, security and insurance issues.
A far easier option is to invest in a low-cost exchange traded fund (ETF) that invests in the precious metal instead, for example, ETFS Physical Gold (PHAU) and iShares Physical Gold (SGLN) both track physical gold. The VanEck Vectors Gold Miners ETF invests directly in mining companies.
Alternatively, BlackRock Gold & General seeks to achieve long-term capital growth primarily through an actively managed portfolio of gold mining, commodity and precious-metal related shares. Its largest portfolio holdings include gold miners Newcrest Mining, Barrick Gold Corp, Agnico Eagle Mines and the NewMont Goldcorp.
Brave investors could take on the added risk of buying individual gold mining stocks, many of which have performed wonderfully well lately.
London-listed Centamin is up more than 70 per cent in just three months, although in a sign of its volatility, it is down 5 per cent on two years ago. Trans-Siberian Gold, listed on London's alternative investment market (AIM) for small stocks, has seen its share price almost quadruple from 34p to 124p over the same period, but do not assume this kind of runaway growth can continue for long
However, buying individual equities like these is highly risky, as their share prices can crash just as quickly, which isn't what what you want from a supposedly safe haven.
Key recommendations
- Fewer criminals put behind bars and more to serve sentences in the community, with short sentences scrapped and many inmates released earlier.
- Greater use of curfews and exclusion zones to deliver tougher supervision than ever on criminals.
- Explore wider powers for judges to punish offenders by blocking them from attending football matches, banning them from driving or travelling abroad through an expansion of ‘ancillary orders’.
- More Intensive Supervision Courts to tackle the root causes of crime such as alcohol and drug abuse – forcing repeat offenders to take part in tough treatment programmes or face prison.
UAE currency: the story behind the money in your pockets
The 12 Syrian entities delisted by UK
Ministry of Interior
Ministry of Defence
General Intelligence Directorate
Air Force Intelligence Agency
Political Security Directorate
Syrian National Security Bureau
Military Intelligence Directorate
Army Supply Bureau
General Organisation of Radio and TV
Al Watan newspaper
Cham Press TV
Sama TV
Company Fact Box
Company name/date started: Abwaab Technologies / September 2019
Founders: Hamdi Tabbaa, co-founder and CEO. Hussein Alsarabi, co-founder and CTO
Based: Amman, Jordan
Sector: Education Technology
Size (employees/revenue): Total team size: 65. Full-time employees: 25. Revenue undisclosed
Stage: early-stage startup
Investors: Adam Tech Ventures, Endure Capital, Equitrust, the World Bank-backed Innovative Startups SMEs Fund, a London investment fund, a number of former and current executives from Uber and Netflix, among others.
The candidates
Dr Ayham Ammora, scientist and business executive
Ali Azeem, business leader
Tony Booth, professor of education
Lord Browne, former BP chief executive
Dr Mohamed El-Erian, economist
Professor Wyn Evans, astrophysicist
Dr Mark Mann, scientist
Gina MIller, anti-Brexit campaigner
Lord Smith, former Cabinet minister
Sandi Toksvig, broadcaster
SPECS
Toyota land Cruiser 2020 5.7L VXR
Engine: 5.7-litre V8
Transmission: eight-speed automatic
Power: 362hp
Torque: 530Nm
Price: Dh329,000 (base model 4.0L EXR Dh215,900)
GOLF’S RAHMBO
- 5 wins in 22 months as pro
- Three wins in past 10 starts
- 45 pro starts worldwide: 5 wins, 17 top 5s
- Ranked 551th in world on debut, now No 4 (was No 2 earlier this year)
- 5th player in last 30 years to win 3 European Tour and 2 PGA Tour titles before age 24 (Woods, Garcia, McIlroy, Spieth)
Profile
Company: Justmop.com
Date started: December 2015
Founders: Kerem Kuyucu and Cagatay Ozcan
Sector: Technology and home services
Based: Jumeirah Lake Towers, Dubai
Size: 55 employees and 100,000 cleaning requests a month
Funding: The company’s investors include Collective Spark, Faith Capital Holding, Oak Capital, VentureFriends, and 500 Startups.
RESULT
Manchester United 2 Tottenham Hotspur 1
Man United: Sanchez (24' ), Herrera (62')
Spurs: Alli (11')
The%20specs
%3Cp%3E%3Cstrong%3EEngine%3A%3C%2Fstrong%3E%202-litre%204-cylinder%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E153hp%20at%206%2C000rpm%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E200Nm%20at%204%2C000rpm%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3E6-speed%20auto%3Cbr%3E%3Cstrong%3EFuel%20consumption%3A%20%3C%2Fstrong%3E6.3L%2F100km%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EDh106%2C900%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3Enow%3C%2Fp%3E%0A
The specs
Engine: 2.0-litre 4-cylturbo
Transmission: seven-speed DSG automatic
Power: 242bhp
Torque: 370Nm
Price: Dh136,814
More from Neighbourhood Watch:
The specs
Price, base / as tested Dh100,000 (estimate)
Engine 2.4L four-cylinder
Gearbox Nine-speed automatic
Power 184bhp at 6,400rpm
Torque 237Nm at 3,900rpm
Fuel economy, combined 9.4L/100km
The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
CONFIRMED%20LINE-UP
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