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JCPOA Talks May Restart After Biden Middle-East Trip

SECURITY
The talks to restore the 2015 Iran Joint Comprehensive Plan of Action nuclear accords have gone back into hibernation following the latest round of talks in Qatar.
  • Journalists covering talks have reported that delegates have played down the possibility of talks resuming.
  • Laurence Norman of the Wall Street Journal: “…my info is there are contacts between EU and Iran post Doha but there is NO intention right now to organise another meeting.”
  • Bloomberg: “Two European diplomats with direct knowledge of this week’s negotiations said that, while talks didn’t progress, efforts to resurrect the accord were expected to continue beyond the July deadline suggested by the UN nuclear watchdog.”
  • The next key date for the talks is likely July 13-16 when US President Joe Biden tours Middle-East. Biden's trip will involve a meeting with the Gulf Cooperation Council which Qatar is a member, and a trip to Israel, one of the primary opponents to a new JCPOA deal.
  • The ongoing challenge for western delegations is that as the Iran of 2022 grows closer to the Russia-China bloc is not as politically and economically isolated as the Iran of 2015.
  • Morning Consult: “Tehran also applied to join the BRICS emerging economies bloc alongside the acronymical Brazil, Russia, India, China and South Africa, which Beijing often uses to showcase its alternative model for global development and criticize the United States and its allies."
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Energy BulletsCommoditiesCEEMEAPolitical Market News

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