EU and Iran to keep nuclear deal in place

Muhammad Irfan 11:56 PM | 16 May, 2018
EU and Iran to keep nuclear deal in place
TEHRAN - Three European Union (EU) powers that signed onto the Iran nuclear deal are in talks with Tehran to keep it in place, despite President Donald Trump’s announcement withdrawing the US from the arrangement.

EU and Iranian diplomats repeated their commitment to “continued, full and effective implementation” of the 2015 Joint Comprehensive Plan of Action (JCPOA), which was endorsed by the UN Security Council and represents a key element of global nuclear nonproliferation and a “significant diplomatic achievement,” EU high representative for foreign policy Federica Mogherini said on Tuesday.

“We are determined to ensure that the JCPOA stays in place,” said Mogherini. “We see the same determination from the Iranian side.”

Brussels and Tehran have agreed to launch “intensive expert discussions,” which have already begun, she said. The two parties are working to reach “something very concrete, very practical, very operational, and hopefully very quickly.”

Among the topics of discussion are the EU and Iran maintaining and deepening economic relations, effective banking transactions, transportation ties, investments and protections for EU businesses operating in Iran.

Exactly a week ago, Trump announced the US will be withdrawing from the “terrible” Iran deal and re-imposing sanctions that were suspended in 2016 under the terms of the agreement negotiated by the Obama administration. The UN sanctions against Iran have already been lifted, however, and the EU willingness to maintain the deal means that Washington will not be able to impose them again.

The US has threatened sanctions against any countries or companies continuing to do business with Iran, which has gone over poorly in European capitals.

Brussels does have other issues it wants to address with Iran, Mogherini said, referring to Tehran’s ballistic missile program and conflicts in Syria and Yemen.

“One thing very clear to us Europeans is that with the nuclear deal in place, we have better chance to address any other issue we have with Iran,” she said.

Muhammad Irfan

The writer is a staff member. He has been affiliated with Pakistan's leading English newspapers and worked as News Producer at FM 107.4. Death (as...he is a station, and death is a longest journey from seen to ...


KARACHI - Following are the foreign currency exchange rates for US Dollar, Saudi Riyal, UK Pound Sterling, U.A.E. Dirham, European Euro, and other foreign currencies in Pakistan open market on February 8, 2023 (Wednesday).

Source: Forex Association of Pakistan. (last update 09:00 AM)

Currency Symbol Buying Selling
US Dollar ‎USD 276.9 280.15
Euro EUR 296.12 296.74
UK Pound Sterling GBP 331.78 332.48
U.A.E Dirham AED 75.06 75.36
Saudi Riyal SAR 73.48 73.79
Australian Dollar AUD 190.31 192.71
Bahrain Dinar BHD 732.23 740.23
Canadian Dollar CAD 205.22 207.42
China Yuan CNY 40.72 41.12
Danish Krone DKK 39.92 40.32
Hong Kong Dollar HKD 35.08 35.45
Indian Rupee INR 3.35 3.46
Japanese Yen JPY 2.5 2.54
Kuwaiti Dinar KWD 900.32 909.32
Malaysian Ringgit MYR 64.65 65.25
New Zealand Dollar NZD 174.19 176.18
Norwegians Krone NOK 27.12 27.41
Omani Riyal OMR 715.11 723.11
Qatari Riyal ‎QAR 75.64 76.34
Singapore Dollar SGD 208.03 210.03
Swedish Korona SEK 26.1 26.4
Swiss Franc CHF 297.31 299.81
Thai Bhat THB 8.25 8.4

KARACHI – Gold prices fell on Wednesday for the third straight day in local markets, after hitting aan all-time high in previous week.

The per tola price of 24 carats gold in Pakistan dropped by Rs2,000 to settle at Rs198,000 while the price of 10 grams decreased by Rs1715 to reach Rs169753.

On Monday, the gold price witnessed a drop of Rs200 per tola to close at Rs204,300.

In the international market, the commodity witnessed an upward trend as per ounce price reached to $1,880 after an increase of $11 dollars.


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