Iran and European powers are engaged in a last-ditch diplomatic effort to avoid the reimposition of UN sanctions on Tehran over its nuclear programme.
On Tuesday, the foreign ministers of Iran, Britain, France, and Germany are scheduled to meet on the sidelines of the UN General Assembly, a diplomatic source told The National.
Although negotiations are continuing, the chances of success appear to be slim.
This comes after Britain, France, and Germany, known as the E3 powers, initiated a 30-day process on August 28 aimed at reinstating the UN sanctions.
They accuse Iran of breaching the 2015 agreement aimed at preventing Iran from developing nuclear weapons. Tehran maintains that its nuclear programme is for peaceful purposes.
Iran has been in close contact with E3 and EU officials, as well as Rafael Grossi, the head of the UN's nuclear watchdog, since Monday morning.
The stakes are high, as Iran faces the threat of a renewed wave of sanctions that could deepen the economic hardship already exacerbated by measures reimposed after the US withdrew unilaterally from the nuclear deal in 2018.
On Monday, Mr Araghchi met Mr Grossi in New York, where they discussed the latest developments in Iran’s interactions with the International Atomic Energy Agency.
Mr Araghchi said Tehran had demonstrated goodwill in addressing nuclear concerns, but urged an end to using the UN Security Council to exert pressure on Iran. Mr Grossi, in turn, stressed the need for all parties to work together diplomatically to avoid further escalation.
The IAEA and Tehran reached an agreement on September 9 aimed at resuming inspections at Iran’s nuclear sites including those attacked by the US and Israel in June, with a meeting in Cairo yielding the groundwork for an eventual return of monitors – subject to additional negotiations.
Iranian officials have been vocal about the pressure they face. On Monday, Mr Araghchi told state television, “They have tested Iran repeatedly and know we do not respond to the language of pressure and threat … I hope we can find a diplomatic solution in the coming days, otherwise Tehran will take appropriate measures.”
The European powers have proposed a six-month delay on reimposing sanctions to allow for continued negotiations, contingent on Iran restoring access to UN nuclear inspectors, addressing concerns about its enriched uranium stockpile, and resuming talks with the US. If no agreement is reached by September 27, UN sanctions will automatically be reimposed.
Ms Kallas warned that time is running out. While the reimposition of sanctions could happen this weekend, lifting them in the future would require US approval.
Iran has said that such an outcome would end its co-operation with the IAEA. Mr Grossi acknowledged the complexity of the situation but expressed hope for more co-operation.
As pressure mounts, some Iranian MPs are calling for a more aggressive stance on nuclear weapons. A group of 71 parliamentarians recently signed a letter urging the country to pursue the development of nuclear arms, questioning why global powers should hold nuclear weapons while Iran remains unarmed.
Meanwhile, Iran is deepening its nuclear ties with Russia. Mohammad Eslami, the head of Iran's Atomic Energy Organisation, announced that Tehran and Moscow will sign an agreement this week for the construction of eight nuclear power plants.
This deal signals strong Russian support for Iran, despite growing international scrutiny. Mr Eslami said four of the reactors will be located at Iran’s Bushehr site, where the country’s only operational nuclear plant is situated. Iran aims to increase its nuclear energy capacity to 20 gigawatts by 2040.
With time running out and tension rising, the coming days will be critical in determining the future of Iran’s nuclear programme and its relationship with the international community.
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Launch year: 2016
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Three trading apps to try
Sharad Nair recommends three investment apps for UAE residents:
- For beginners or people who want to start investing with limited capital, Mr Nair suggests eToro. “The low fees and low minimum balance requirements make the platform more accessible,” he says. “The user interface is straightforward to understand and operate, while its social element may help ease beginners into the idea of investing money by looking to a virtual community.”
- If you’re an experienced investor, and have $10,000 or more to invest, consider Saxo Bank. “Saxo Bank offers a more comprehensive trading platform with advanced features and insight for more experienced users. It offers a more personalised approach to opening and operating an account on their platform,” he says.
- Finally, StashAway could work for those who want a hands-off approach to their investing. “It removes one of the biggest challenges for novice traders: picking the securities in their portfolio,” Mr Nair says. “A goal-based approach or view towards investing can help motivate residents who may usually shy away from investment platforms.”
Company%20profile
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What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
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