US Works To Ensure Alternative Oil Supply To India

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The sources said based on the rights envisioned in JCPOA's paragraph of 26 on the European Union commitments and also in paragraphs of 36 and 37 which are about dispute resolution mechanism, Iran plans to decrease some of its commitments and resume a number of its nuclear activities that have been ceased under the JCPOA.

The Isna and Tasnim agencies reported on Monday that the date was chosen to coincide with the one-year anniversary of U.S. President Donald Trump's announcement of the U.S. withdrawal from the 2015 pact. The waivers were also reduced from 180 days to 90 days, in which the remaining parties are allowed to cooperate with Iran on the sites of Bushehr, Arak and Fordow without facing United States sanctions.

Also the paragraph 37 says that "Iran has stated that if sanctions are reinstated in whole or in part, Iran will treat that as grounds to cease performing its commitments under this JCPOA in whole or in part".

The European Union and the foreign ministers of Britain, France, and Germany expressed concern about the USA decision not to extend two waivers related to the 2015 nuclear deal with Iran and others regarding Tehran's oil industry.

Iranian President Hassan Rowhani plans to declare his country's "partial termination" of the nuclear deal with major powers on Wednesday, according to two Iranian news agencies.

But a source said: "The Islamic Republic of Iran in reaction to the exit of America from the nuclear deal and the bad promises of European countries in carrying out their obligations will restart a part of the nuclear activities which were stopped under the framework of the nuclear deal".

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Rouhani's comments, carried live on Iranian TV, came a day after Washington acted to force Iran to stop producing low-enriched uranium and expanding its only nuclear power plant, intensifying a campaign aimed at halting its ballistic missile program and curbing its regional power.

Iranian parliamentary speaker Ali Larijani on May 4 said Iran will continue to enrich uranium in accordance with the accord regardless of US moves to put a stop to it.

Iran was to sell off any enriched uranium above the limit on worldwide markets in return for natural uranium.

Under the 2015 deal, Iran restricted the capacity of its uranium enrichment programme - widely seen as a route to developing a nuclear weapon - in exchange for a lifting of most worldwide sanctions.

US Secretary of State Mike Pompeo also fired a warning to Iran.

"Last year, we had we non-oil exports of $43 billion".

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