Iran not to retreat from decision on JCPOA deadline: lawmaker

TEHRAN, Jul. 02 (MNA) – An Iranian lawmaker says EU's long-awaited trade mechanism (INSTEX) does not seem to meet Iran’s demands, stressing that the country will not retreat from its decision to scale down nuclear commitments after the 60-day deadline.

“Implementation of the INSTEX [Instrument for Supporting Trade Exchanges] will not meet our demands, and we will take the second step to reduce commitments under JCPOA more firmly,” Valiollah Nanvakenari, a member of the Iranian Parliament’s National Security and Foreign Policy Commission told Mehr on Tuesday.

“We expected the Europeans to fulfill their obligations to the JCPOA after the US’ withdrawal from the pact,” he reiterated.

Noting that the deadline is so close, Nanvakenari said, “We will wait till the end of the 60-day ultimatum, but, if the remaining signatories do not honor their commitments, we will take our next step more firmly.”

On May 8, 2018, the US unilaterally pulled out from the JCPOA and reimposed its sanctions on Iran’s key economic sectors.

European signatories of the 2015 nuclear deal said they will keep the accord alive by launching the long-awaited INSTEX to help Iran reap some benefits from the Joint Comprehensive Plan of Action (JCPOA).

However, they have shown clear inaction in saving the deal, while the US violation of the JCPOA has barred Tehran from benefiting from the economic dividends of the JCPOA.

Running out of patience with the EU's sluggishness, Iran reduced its commitments under the deal on May 8, and warned the EU that it would consider leaving the accord after 60 days if its demands were not met.

MNA/4655638

News Code 147123

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