Iran and Five Global Powers Meeting on Preserving JCPOA Scheduled for Friday

According to Iranian domestic media, the foreign ministers of Iran and the five global powers are set to hold a meeting on Friday to discuss the status of the nuclear agreement in Vienna, Austria. Senior diplomats from Britain, France, Germany, China, and Russia will gather with Mohammad Javad Zarif, Iran's foreign minister, to consult on preserving the Joint Comprehensive Plan of Action (JCPOA). Reports indicate that Federica Mogherini, the EU's foreign policy chief, will also attend the meeting in Vienna on Friday. The ISNA news agency quotes 'an informed source' stating that the purpose of this consultation is to address how the EU can protect Tehran's interests in the JCPOA through an economic package and guarantees. This is the first meeting at this level since the U.S. withdrawal from the JCPOA, which was announced two months ago by U.S. President Donald Trump. The nuclear agreement with Iran was signed in 2015 in Vienna. After the U.S. exited the JCPOA, the EU, along with Russia and China, emphasized the importance of maintaining this international agreement; however, U.S. extraterritorial sanctions have made economic and banking cooperation with Iran very difficult. Many large European companies have left Iran in recent weeks due to fears of these sanctions. Iran has stated that if it does not benefit economically from the JCPOA, it may withdraw from the agreement. Guaranteeing oil sales has been one of the main conditions set by Ayatollah Khamenei, the Supreme Leader of the Islamic Republic, for remaining in the JCPOA. The U.S. has given countries three months to reduce their oil imports from Iran to zero. On July 9, Trump warned that if European companies trade with Iran while ignoring U.S. sanctions, they will be subject to sanctions. Meanwhile, Iranian President Hassan Rouhani stated on Monday, July 2, in Switzerland: 'The Americans claim they want to completely stop Iran's oil exports. They do not understand the meaning of this statement, as it makes no sense for Iran's oil not to be exported while the region's oil is exported.' He then added, 'If you can do this, go ahead and see the result.' Rouhani did not elaborate further on this matter. He arrived in Zurich, Switzerland, on Monday to discuss the EU's proposed package for preserving the JCPOA with Swiss and Austrian officials.