Published On: Wed, Sep 4th, 2019

Iran hold world to ransom: Tehran warns of further retreat from nuclear deal | World | News

Tehran has ordered world powers to reset the terms of the nuclear deal or face “extraordinary” consequences. Relations between Iran and the rest of the world have worsened after US President Donald Trump abandoned the landmark 2015 Iran nuclear deal. The treaty agreed to restrict Tehran’s nuclear programme in exchange for sanction relief. The US has since increased sanctions to Iranian oil exports – whilst Tehran has retaliated and increased its levels of Uranium.

The increased sanctions by Washington has prohibited the sale of Iranian oil which has slashed Tehran’s economy by 80 percent.

French President Emmanuel Macron has tried to ease tensions and has floated the idea of offering Iran around $15 billion in credit lines until the end of this year if Tehran comes fully back into compliance with its 2015 nuclear deal.

However Iranian President Hassan Rouhani has given Europe a two month deadline to find a solution.

Mr Rouhani told Iran’s state television: “The third step is of an extremely important nature and will considerably accelerate the activities of the country’s nuclear energy organisation.

“This step is the most important one we will take, and its impact will be extraordinary,

“Europe has another two-month deadline for negotiations, an agreement and a return to its commitments.”

Iran’s Deputy Foreign Minister Abbas Araghchi has warned world leaders they will have either buy Iranian oil or off-set the financial costs.

Mr Araghchi said Iran would further undermine the treaty if its demands were not met.

He said: “Our return to the full implementation of the nuclear accord is subject to the receipt of $15 billion over a four-month period, otherwise the process of reducing Iran’s commitments will continue.”

He added: “Either Europe has to buy oil from Iran or provide Iran with the equivalent of selling oil as a credit line guaranteed by Iran’s oil revenue.”

Mr Rouhani has already pressed ahead with developing centrifuges starting on Friday in order to speed up the enrichment of uranium.

READ MORE: US-Iran crisis: Tehran unveils high-precision attack drone

The chemical element can be used to produce fuel for power plants or for atomic bomb.

Under the accord, Iran was allowed to keep restricted quantities of first-generation centrifuges at two nuclear plants.

The successful development of more advanced centrifuges would enable it to produce material for a potential nuclear bomb several times faster.

Meanwhile the US has warned there will be more sanctions coming and has refused to sign up to the $15 billion deal for Iran.

Brian Hook, the US special representative for Iran said: “We did sanctions today.

“There will be more sanctions coming.

“We can’t make it any more clear that we are committed to this campaign of maximum pressure and we are not looking to grant any exceptions or waivers.”

Meanwhile Mr Trump has opened the door for talks with the Iranian leader at the United Nations summit in New York on September 25.

Asked about the possibility of meeting the Iranian leader, Mr Trump said: “Sure, anything’s possible. They would like to be able to solve their problem.”

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