It has been 16 months since the inception of indirect talks between US and Iran after US imposed sanctions on Iran by backing up from the deal under the Trump administration. Iranian state run News agency, IRNA, has accused the US of delaying the nuclear deal under the pressure from certain interest groups.
The chief of European Union foreign policy, Josep Borrell, said on Monday that Iran, so far, has answered rationally and positively to the proposal and it may take a few days to revive the nuclear deal. Borrell is also hoping that the United States will respond positively to the proposal. He mentioned it while talking to an audience in Spain on August 22.
“What matters so far is procrastination from the American side on offering a response,” Spokesman of the Ministry of Iranian foreign affair’s Nasser Kanani said on Monday. The United States abandoned the deal in 2018, in addition to other stakeholders – including China, Russia, France, Germany and the United Kingdom, citing security reasons and imposed sanctions on Iran in 2018.
Why is it important for Iran?.
If the agreement is finalized between Iran and the International community, the nuclear deal will be revived in two 60-day periods & four phases over. It’ll unfreeze $7 billion worth of Iranian assets in South Korea, Iran will be free to sell its oil to the world market and some 150 Iranian financial bodies and 17 banks will face relief from US sanctions. Iran will also gain 36 months of guaranteed US sanctions relief and Iran will start to become a partner in the global economy.
Why does it matter?.
In return of all the privileges, Iran will not be able to enrich the uranium so as to make a ‘nuclear bomb‘. The agreement will make sure that Iran roll back its nuclear advances so as to secure the region and make it nuclear free, diminishing any chance of a nuclear bomb, which Iran says it is not aiming to obtain.