Iran Agrees to Cease Producing Close to Bomb-Grade Uranium: IAEA

Iran has agreed to cease producing uranium enriched near the extent required for nuclear weapons, an indication the Islamic Republic could also be able to resolve a standoff with the West over its atomic actions. 

Screens from the Worldwide Atomic Vitality Company mentioned Tuesday that Iran has begun implementing measures “geared toward stopping the rise of its stockpile,” based on a 12-page report seen by Bloomberg Information. The Islamic Republic’s engineers have already taken the primary steps essential to cap output, the IAEA wrote.

Oil futures promptly dropped roughly 50 cents following the report of Iran’s restraint, buying and selling little modified on the day close to $73.25 a barrel in London.

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Iran’s dedication adopted discussions between IAEA Director Basic Rafael Mariano Grossi and Iranian President Masoud Pezeshkian this month in Tehran. Whereas the IAEA nonetheless must finalize investigations into previous Iranian actions, a cap on Iran’s stockpile “can be necessary” to begin rebuilding belief, Grossi wrote within the report.

Iran started enriching uranium at as much as 60 p.c ranges in 2021. That materials may rapidly be upgraded to the 90 p.c degree usually utilized in nuclear weapons, prompting concern throughout Europe and the U.S. 

The IAEA’s safeguards report is the final earlier than US President-Elect Donald Trump takes workplace in January, and hypothesis has been rife about how his administration will deal with relations with Iran. Throughout his first time period that led to 2021, Trump withdrew the US from a global settlement that capped Iran’s nuclear actions in change for sanctions reduction, imposing a coverage on the Islamic Republic dubbed “most strain.”

“It’s an early olive department but in addition a sign that Iran is keen to barter over its nuclear program,” mentioned Vali Nasr, a former senior advisor to the US State Division and professor at Johns Hopkins College of Superior Worldwide Research. “It’s directed on the U.S., since change in Washington will resolve the subsequent chapter in Iran’s relations with the West.” 

Below President Joe Biden, Iran has change into more and more embroiled in battle with US ally Israel. The 2 nations have twice exchanged direct hearth this yr, together with final month, whereas Tehran-backed militant teams have been battling Israel in each Lebanon and Gaza.  

IAEA screens mentioned Iran has held again from feeding uranium into new strains of superior centrifuges at its Fordow enrichment facility, constructed into the facet of a mountain, which Israel has threatened to assault. Talking after assembly Grossi final week, Pezeshkian mentioned Iran needs to resolve “ambiguities and alleged doubts about our nation’s peaceable nuclear actions,” based on the state-run Islamic Republic Information Company. 

Iran nonetheless has sufficient gas readily available to provide a handful of warheads, the IAEA mentioned, giving it room to maneuver ought to its management make a political resolution to maneuver ahead with nuclear armament. Inspectors have misplaced “continuity of information” over key elements of the nation’s nuclear work, which might have to be restored as a part of a broader deal to manage and oversee actions, they mentioned. 

The IAEA’s 35-member board of governors is scheduled to convene within the Austrian capital of Vienna on Wednesday to debate Iran’s nuclear work.