Tabnak – As the Islamic Republic appears determined in revising its JCPOA commitments, the remaining parties of the deal are trying to provide Iran with the promised economic benefits in order to preserve the landmark deal. However, Iran is still unsatisfied with what the Europeans have done in terms of launching a special measure for trade purposes.
Iran announced after a meeting of joint commission the 2015 nuclear deal that a payment channel the three EU parties to the accord have set up for trade with Tehran –known as INSTEX- is by no means satisfactory and is doing nothing about the sale of Iranian oil.
Speaking to reporters after the Friday meeting of the JCPOA’s joint commission in Vienna, Iran’s Deputy Foreign Minister for Political Affairs Abbas Araqchi said plans to put the INSTEX (Instrument in Support of Trade Exchanges) into operation have made some progress, but the Europeans fall way short of Iran’s expectations.
The Iranian diplomat added that there is still a long way to the fulfillment of Iran’s demands, although the 3-hour-long meeting was seen as a step forward in comparison to the previous sessions.
“INSTEX has finally become operational, as two or three working cases are currently in progress and financial transactions are going to take place within coming days,” he said.
He added that the European countries have plans to allocate credits to INSTEX and have promised that the other countries will also be able to use the mechanism for trade with Iran very soon.
“INSTEX has reached the operational stage, but falls short of our expectations. INSTEX will not be able to fulfill our expectations without Iran’s oil being purchased or without certain credits being considered for it. So the European countries must seriously put the issue of Iran’s oil export on the agenda,” Araqchi added.
Meanwhile, the Joint Commission of the 2015 Iran nuclear deal described the lifting of sanctions against the Islamic Republic as “an essential part of the agreement”.
“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,” the JCPOA Joint Commission said in a statement issued at the end of its quarterly meeting.
“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,” it added.
European signatories to the nuclear deal are facing a two-month ultimatum to help Iran navigate US sanctions or see Tehran take the second step of reducing its commitments on July 7.
In early May, Tehran suspended limits on its production of enriched uranium and heavy water, moves that did not technically violate the deal but signaled that its patience was wearing thin.
