The International Atomic Energy Agency’s (IAEA) decision yesterday to close its investigation
into whether Iran once had a secret nuclear weapons programme, thus declaring its support for the nuclear deal between Tehran and the world powers, is another sign that the execution of the deal is moving in the right direction. Iran is in a hurry to see the full lifting of sanctions imposed against it, and has been cooperating with the IAEA towards this end. Tehran’s envoy to the UN nuclear watchdog made this clear in Vienna yesterday. Speaking shortly after the
agency’s 35-nation board announced its decision, Reza Najafi said his country is hurrying to implement its side of the deal to pave the way for the lifting of international sanctions. The US, Russia, Britain, France, Germany and China reached a deal with Tehran in July under which sanctions will be lifted in exchange for restrictions on the Islamic Republic’s atomic activities. Tehran stands to benefit immensely from that step –- billions of dollars of frozen funds and assets will be released, its energy market will receive a boost and its economy in general will get a huge dose of oxygen, nursing it back to health, thus improving the lives of people.
In a symbolic victory for Iran, the Board of Governors of the nuclear watchdog passed a resolution ending its long-running inquiry but allowing inspectors to continue to police the country’s nuclear programme. IAEA Director-General Yukiya Amano said Iran was moving “at quite high speed” to put all the measures in place, adding the agency would need weeks after Iran had finished to verify that it had done everything required of it.
The cooperation between the watchdog and the Iranian regime has entered a new phase. Though there have been fears that Iran would clandestinely pursue its nuclear programme despite the deal, it’s unlikely that it would make any such attempt now. Any failure to comply with the deal would come at a heavy cost, and the authorities know the benefits of compliance outweigh gains from a nuclear programme.
One sector that will get a lifeline from the lifting of sanctions is the energy sector, and Iran will be able to sell its oil in the world markets. The energy market was worried that Iran’s entry would bring down the prices. But unfortunately, the global energy market is in serious crisis, with prices at the rock-bottom, and Iran is unlikely to benefit much. And there are chances that oil prices would further come under pressure once the Iranian oil starts flowing.
The IAEA must continue rigorous monitoring of Iran’s nuclear programme because once sanctions are lifted, Tehran might feel emboldened to go back on its promises.
The International Atomic Energy Agency’s (IAEA) decision yesterday to close its investigation
into whether Iran once had a secret nuclear weapons programme, thus declaring its support for the nuclear deal between Tehran and the world powers, is another sign that the execution of the deal is moving in the right direction. Iran is in a hurry to see the full lifting of sanctions imposed against it, and has been cooperating with the IAEA towards this end. Tehran’s envoy to the UN nuclear watchdog made this clear in Vienna yesterday. Speaking shortly after the
agency’s 35-nation board announced its decision, Reza Najafi said his country is hurrying to implement its side of the deal to pave the way for the lifting of international sanctions. The US, Russia, Britain, France, Germany and China reached a deal with Tehran in July under which sanctions will be lifted in exchange for restrictions on the Islamic Republic’s atomic activities. Tehran stands to benefit immensely from that step –- billions of dollars of frozen funds and assets will be released, its energy market will receive a boost and its economy in general will get a huge dose of oxygen, nursing it back to health, thus improving the lives of people.
In a symbolic victory for Iran, the Board of Governors of the nuclear watchdog passed a resolution ending its long-running inquiry but allowing inspectors to continue to police the country’s nuclear programme. IAEA Director-General Yukiya Amano said Iran was moving “at quite high speed” to put all the measures in place, adding the agency would need weeks after Iran had finished to verify that it had done everything required of it.
The cooperation between the watchdog and the Iranian regime has entered a new phase. Though there have been fears that Iran would clandestinely pursue its nuclear programme despite the deal, it’s unlikely that it would make any such attempt now. Any failure to comply with the deal would come at a heavy cost, and the authorities know the benefits of compliance outweigh gains from a nuclear programme.
One sector that will get a lifeline from the lifting of sanctions is the energy sector, and Iran will be able to sell its oil in the world markets. The energy market was worried that Iran’s entry would bring down the prices. But unfortunately, the global energy market is in serious crisis, with prices at the rock-bottom, and Iran is unlikely to benefit much. And there are chances that oil prices would further come under pressure once the Iranian oil starts flowing.
The IAEA must continue rigorous monitoring of Iran’s nuclear programme because once sanctions are lifted, Tehran might feel emboldened to go back on its promises.
