Abbas Araghchi: The Benefits of the JCPOA for Iran Are Close to Zero

The political deputy of Iran's Foreign Minister announced that Tehran's benefits from the nuclear agreement known as the JCPOA are 'close to zero' due to the return of U.S. sanctions. Abbas Araghchi, speaking at a seminar on Iran-EU nuclear cooperation in Brussels on Tuesday, December 5, warned that the balance of 'give and take' in the JCPOA has been lost, and if Iran does not benefit from the JCPOA, 'this agreement will not survive.' This Foreign Ministry official had previously stated that the special financial mechanism between Iran and Europe has not been implemented despite European countries' efforts due to threats from the U.S. against companies in this continent. The direct threats to European countries from Brian Hook, the U.S. Special Representative for Iran, according to Araghchi, are the main reason for European countries' refusal to host the special financial mechanism with Iran. Mr. Araghchi stated that the International Atomic Energy Agency has confirmed Iran's compliance with the JCPOA provisions '13 times' so far, adding: 'However, on the other side, Iran has still not benefited from the economic advantages of the JCPOA.' He also described the establishment of the special financial mechanism for the continuation of peaceful nuclear cooperation between Iran and Europe in Fordow and Arak as 'a necessity.' The United States exited the nuclear agreement with Iran on May 8 of this year and reinstated the sanctions that had been lifted as a result of the JCPOA in two rounds in August and November. These sanctions have severely impacted Iran's economy, reducing the country's oil sales by up to one million barrels. 'The failure of the European Union' to establish a special trade mechanism with Iran coincided with the return of sanctions. Despite the U.S. withdrawal from the JCPOA, Russia, China, and the European Union have stated that they remain committed to the JCPOA as long as Tehran fulfills its commitments. The European Union has announced its plan to establish a special mechanism for non-dollar transactions between companies in this continent and Iran. However, this plan, which was supposed to be implemented on November 4, is still caught up in the complexities of finding a host country for this mechanism. Ali Akbar Salehi, the head of Iran's Atomic Energy Organization, who was also present at the seminar, warned the European Union that if it does not fulfill its commitments regarding Tehran's economic benefits from the JCPOA, this situation will have 'serious consequences.' Salehi added, 'If words do not turn into action, the situation... will become very dire and unpredictable.' The head of Iran's Atomic Energy Organization did not refer to the details of this situation, its consequences, or the potential exit of Tehran from the JCPOA. However, Miguel Arias Cañete, the European Union's energy commissioner, said on Tuesday at a joint press conference with Ali Akbar Salehi, 'No one should doubt the political ambition and determination of the member countries, especially France, Germany, and Britain, which are quickly seeking to implement the special mechanism.'