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Compliance With Interim Deal Confirmed

Compliance With Interim Deal Confirmed   Compliance With Interim Deal Confirmed

Iran has taken the necessary steps to continue to comply with an interim nuclear agreement, according to a UN nuclear agency report seen by Reuters on Monday, as Tehran and the major powers gave themselves an extra seven months to clinch a final deal.     

The International Atomic Energy Agency (IAEA) issued its monthly update on the preliminary accord's implementation on the same day that Iran and the six major powers (the United States, Russia, China, Britain, France and Germany) agreed to extend that deal until June, after failing to meet Monday's deadline for a comprehensive settlement.

With inspectors on the ground, the IAEA checks Iran is living up to its part of the preliminary deal that was signed in Geneva last year, under which Iran agreed to temporarily scale down parts of its nuclear work in exchange for some sanctions easing.

It also agreed to keep down its stocks of uranium refined to low levels by converting newly produced gas into oxide.

The confidential report issued to IAEA member states showed Iran's stockpile of 5 percent enriched uranium gas was just under 7,400 kg, within the limit agreed last year.

The IAEA report also showed Iran had used some of its higher-grade enriched uranium to make nuclear fuel.

In exchange for limiting its nuclear program under the interim accord, Iran has received some of its frozen oil revenues held abroad. British Foreign Secretary Philip Hammond said he expected that Iran would continue to receive about $700 million per month during the new extension of the deal.

 

Financialtribune.com