Iran may announce a reduction in nuclear deal commitments on September 5

TEHRAN – Tehran will announce on Thursday the third stage to reduce obligations under the nuclear deal if talks with Europe do not yield results before then. Iranian President Hassan Rouhani announced on Tuesday during a speech in the Majlis (Iranian Parliament).

“If the talks [with the European parties to the nuclear deal] do not produce results by Thursday, we will announce the third stage to reduce the obligations of the Joint comprehensive action plan (JCPOA),” Rouhani said on the official website of the Iranian President. He added that ” in any case, Tehran will continue negotiations.”

The President noted that the main topic of discussion today is the export of Iranian hydrocarbons. “If other countries can buy our oil for cash or on credit, it will simplify the situation, and we will be able to take action to meet the obligations [under the JCPOA],” he said.

On August 30, the Wall Street Journal reported that EU diplomats support French President Emmanuel Macron’s proposals to allow Iran to sell some oil in exchange for some serious commitments. According to the publication, the possibility to allow Tehran to sell about 700 thousand barrels of oil per day, and also to give the country a loan of about $15 billion from Iran may require to fully comply with all terms of the transaction in the atom, and also may take on some other responsibilities.