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JCPOA 'Final Stage' Of Talks Tomorrow

SECURITY
Diplomats return to Vienna tomorrow for talks to reincorporate Iran into the 2015 Joint Comprehensive Plan of Action.
  • The US State Department said on Friday it was waiving some sanctions on Iran’s nuclear programme which will allow for international companies to participate in Iran’s civilian nuclear programme. The waiver is considered a necessary step for a JCPOA deal.
  • Iranian Foreign Minister Hossein Amirabdollahian was positive about the chances of a deal being struck but for Iran the aim is to receive guarantees that the US will not unilaterally withdraw from the 2015 deal again.
  • Amirabdollahian said: ‘The lifting of some sanctions can, in the true sense of the word, translate into their goodwill …We seek and demand guarantees in the political, legal and economic sectors…’
  • The US will maintain requests for the release of US political prisoners and assurances that the time frame for Iran to develop a nuclear weapons remains within the acceptable level.
  • A positive resolution will allow the lifting of US sanctions on the Iranian oil industry and provide some relief to squeezed global oil supply.
  • The hesitancy of OPEC+ to significantly increase oil production suggests that the cartel is concerned about Iranian oil hitting the market and causing volatility.
  • S&P Global Platts Analytics said: 'The negotiations have been the top oil supply risk for 2022, with an interim deal potentially increasing exports by 700,000 b/d while a breakdown in talks could spike geopolitical tensions and global oil prices.'
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