UN nuclear watchdog says Iran in breach of non-proliferation duties
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The news: UN nuclear watchdog, the International Atomic Energy Agency (IAEA), has found that Iran is not complying with its nuclear obligations for the first time in 20 years.
The context: The declaration is a culmination of several stand-offs between the Vienna-based IAEA and Iran since Trump pulled the US out of a nuclear deal between Tehran and major powers in 2018. The draft IAEA resolution seen by AP saw 19 countries vote in its favour, while Russia, China and Burkina Faso opposed the resolution.
The statement by the IAEA’s board of governors raises the prospect of the watchdog reporting Iran to the UN Security Council.
Iran responded to the decision, saying that it will establish a new enrichment facility “in a secure location” and that “other measures are also being planned.”
“The Islamic Republic of Iran has no choice but to respond to this political resolution,” the Iranian Foreign Ministry and the Atomic Energy Organisation of Iran said in a joint statement.
Behrouz Kamalvandi, spokesperson for the organisation, told state TV that Tehran had informed the IAEA of two countermeasures including "the upgrading of centrifuges in Fordow (enrichment plant) from first to sixth generation, which will significantly boost the production of enriched uranium."
US officials have warned that Israel could carry out strikes targeting Iranian nuclear facilities if negotiations between the US and Iran fail. A new round of US-Iran talks are scheduled to take place in Oman over the weekend. Efforts by the Trump administration to reach a nuclear deal with Iran have been deadlocked, with the President saying that he is now “less confident” of a deal being struck.
The news comes after Trump on Wednesday ordered American personnel to be evacuated from the region as it “could be a dangerous place.”
The Trump administration has insisted that Washington cannot allow Iran to have even 1% of an enrichment capability.
The numbers: Stocks across the Middle East fell on Thursday, with Israel’s TA-35 Index falling as much as 2.5%. The Dubai Financial Market General Index shed 2.3% and the Saudi Tadawul All Share Index dropped 1.8%.
A jump in oil prices on Wednesday eased on Thursday, with brent crude futures down 73 cents ($1.12), or 1.1%, to USD69.04 a barrel in early UK trading, while US West Texas Intermediate crude was 66 cents, or 1%, lower at USD67.49 a barrel.
The sources: Associated Press, Reuters, Iran International, Bloomberg
