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While the United States is ramping up pressure on countries around the world to cut back on Iranian oil imports as the United States is re-imposing its sanctions on Iran after exiting the nuclear agreement known as the Joint Comprehensive Plan of Action (JCPoA), the International Atomic Energy Association (IAEA) confirmed that Iran remains fully compliant with the multilateral agreement (JCPoA) that was reached between Iran and six world powers; Russia, China, Germany, United Kingdom, France, and the United States).
The United States’ exit sparked widespread criticism from both allies and adversaries and the latest report from IAEA dealt yet another blow. International Atomic Energy Agency (IAEA) Director General Yukiya Amano verified on Monday that Iran is living up to all its obligations under the 2015 nuclear deal.
The future of the agreement is filled with uncertainties as Iran has threatened to exit from the agreement if it ceases to be economically beneficial. Iran has called on Europeans to take measures to protect the agreement. Despite U.S. pressure, both European Union and the United Kingdom have announced their commitment to the agreement and the European Union even announced a €18 million as an aid to Iran in response to the U.S. sanctions and currently allegedly working on a new banking channel and payment system that would protect the agreement from the influence of USD.
The first tranche of U.S. sanctions has gone live beginning August, targeting Iran’s access to USD and the rest would go live by November, which would specifically target banking systems and Iran’s oil imports.
