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MNI US Macro Weekly: Politics To The Fore
JCPOA Talks Restart In Vienna
The Joint Comprehensive Plan of Action (JCPOA) talks have resumed in Vienna following a four month break, during which time Iran has significantly advanced its nuclear programme, and removed IAEA monitoring equipment from nuclear sites, in response to an IAEA Board of Governors resolution to censure Iran.
- The first meetings of the fresh round of talks were between Iranian negotiator Ali Bagheri Kani his Russian counterpart Mikhail Uluanov, then Bagheri Kani and EU negotiator Enrique Mora.
- The US delegation has managed expectations of a positive outcome, continuing to stress that a deal has been completed and is awaiting ratification from Tehran, who they accuse of obfuscating the deal through making extraneous demands.
- WSJ's Laurence Norman writes: "...Iran has repeatedly failed to explain why several samples of undeclared nuke material was found in the country. Its refusal to play by IAEA rules is, according to Tehran, reason to reject JCPOA revival."
- Yesterday, Iran reported that it had completed the installation of three advanced IR-6 centrifuge cascades further reducing the "breakout time," for building a nuclear bomb and diminishing the value of a JCPOA deal.
- The Biden administration has stated in the past month that a "plan B" has been devised with "Allies" should the talks fail to bring Iran back into compliance with the JCPOA accords.
- It is unclear whether or not "plan B" involves a military option but Israel has lobbied the EU and US to keep a military option on the table.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.