World powers (US, UK, France, Russia, China and Germany, the so-called P5+1) and Iran have agreed to extend negotiations over Tehran’s nuclear programme by a further four months.
Iran and the P5+1 concluded a six-month agreement in Geneva in November, which saw Tehran reduce some of its enrichment capacity in return for a loosening of selected sanctions.
However, both sides are now looking to broker a longer-term settlement and agreed to a 20 July deadline to reach such an agreement.
The latest round of talks, which began on 2 July, concluded this week with an agreement to extend the talks until 24 November.
US Secretary of State John Kerry emphasized that, “just as we have over the last six months, we will continue to vigorously enforce the sanctions that remain in place.”
In addition, the two sides have agreed that a further amount in Iranian assets will be unfrozen. In return, Iran will convert 20 per cent uranium oxide into fuel plates, making it virtually impossible to use it as weapons-grade material.
However, significant disagreement remains on a number of issues, especially over the number of centrifuges Iran would be permitted under the terms of a long-term deal.
The P5+1 powers want Tehran to reduce its number of centrifuges to 5,000 while Iran’s Supreme Leader Ayatollah Khamenei recently said that his country needs 190,000 centrifuges.
On Tuesday, the EU extended until 24 November the suspension of EU restrictive measures against Iran.
Under the sanction relief specified in the Joint Plan of Action, the Islamic republic could continue parts of its international oil trade, which is the pillar of the country's economy.
"The suspension allows: the provision of insurance and transport in relation to Iranian crude oil sales to current customers, the import, purchase or transport of Iranian petrochemical products, as well as trade in gold and precious metals with the Iranian government and its public bodies," an EU statement said.
Meanwhile, in the duration of next four months, the increase in thresholds for authorising financial transfers to and from Iran also remains in force, according to EU's decision.
The Anti-Defamation League cautiously expressed support for the four-month extension of talks but it voiced concern that agreement for additional time reached in Vienna, which enables Iran to continue enriching uranium and gives it access to more of its restricted assets, presents "a danger that Iran will read the extension as a reward for its intransigence."
Abraham H. Foxman, ADL National Director, said : ‘‘We support the U.S. effort, along with the other nations of the P5+1, to negotiate an end to Iran’s nuclear weapons program. A negotiated agreement is the best solution for all parties and is worth the significant effort the U.S. and its partners are investing. Progress has been made, and the next four months will truly test if Iran is serious about closing the gaps or is only stalling for time.’’