US says no more Iran talks 'on the books' until progress is made


Jamie Goodwin
  • English
  • Arabic

The US has ruled out another round of indirect talks with Iran in Qatar’s capital Doha due to a lack of progress.

Indirect negotiations between the two countries over Tehran’s nuclear deal with world powers ended last week after no significant progress.

The US intends to resurrect the deal, formally known as the Joint Comprehensive Plan of Action (JCPOA), to limit Iran’s nuclear activities through strict monitoring and prevent it from developing nuclear weapons in exchange for the removal of economic sanctions.

US State Department spokesman Ned Price told a media briefing on Tuesday that the lack of progress from Iran in finding a deal was “tantamount to backtracking”.

“There is not another round of talks currently on the books. We remain committed to exploring a mutual return to compliance with the JCPOA,” he said.

“We are committed to returning to compliance with the JCPOA if Iran makes that same commitment. Unfortunately, Iran, as I said before, continues to raise issues that are extraneous [and] continues to demonstrate that it has not yet made that political commitment.”

US State Department spokesman Ned Price said the deal on the table would not be there forever. AFP
US State Department spokesman Ned Price said the deal on the table would not be there forever. AFP

Earlier on Tuesday, US special envoy for Iran Robert Malley said Iran had enough highly enriched uranium to make a nuclear bomb.

He told National Public Radio (NPR) that the failure of the last round of talks was a “wasted occasion”.

Mr Malley also put the blame on Iran for making additional demands unrelated to discussions on its nuclear programme during the latest talks.

Iranian President Ebrahim Raisi said the removal of “cruel” sanctions against his country was a prerequisite for striking a deal with the world powers, Iranian state media reported on Tuesday.

Mr Raisi made the comments in a meeting with Lithuania’s ambassador to Tehran, Richard Digotis, on Monday.

“The removal of cruel sanctions against Iran will prepare the ground for an agreement and co-operation,” he said.

Iran has maintained that it will comply with the JCPOA enrichment limits when sanctions are lifted while Washington has demanded that Tehran first comply before sanctions can be removed.

Mr Raisi said the US and its allies on the board of the International Atomic Energy Agency had adopted an anti-Iran resolution during talks to revive the JCPOA.

On June 8, the agency's board passed a resolution, the first in two years, drafted by the US and European countries that criticised Iran for not fully complying with UN inspectors at three undeclared nuclear sites.

Before the vote, Iran said it was disconnecting several UN monitoring cameras at nuclear sites already operating beyond the terms of the 2015 agreement.

It revealed plans to install more advanced centrifuges for nuclear enrichment at the Natanz complex in response to the resolution.

More than six months since the US first said time was running out, Mr Price said in the Tuesday briefing that the “deal on the table” would not be there indefinitely.

“We were disappointed that Iran, yet again, failed to respond positively to the EU’s initiative, and no progress was made,” he said of the Doha talks, which were arranged by European nations.

“We are at a point where the lack of forward momentum, the lack of progress is tantamount to backtracking. Time is of the essence.

“We have said that because this is not a deal that will be on the table indefinitely. It is a deal that will be on the table only as long as it is in our national security interests.

“And the fact is that since Iran distanced itself from the commitments it made with the JCPOA that was implemented in January 2016, Iran’s programme has galloped forward in ways that are wholly concerning to us.

“There is a deal on the table that would mitigate many of those concerns and that, most importantly, would once again verifiably and permanently see to it that Iran is prevented from obtaining a nuclear weapon.

“That is our goal. It is our goal because President [Joe] Biden has made a commitment that Iran must not be allowed to acquire a nuclear weapon.”

Former Iran envoy named as global anti-corruption chief

Mr Price announced Richard Nephew as the State Department's global anti-corruption co-ordinator during the briefing.

Mr Nephew rejoins the State Department from Columbia University’s Centre on Global Energy Policy, where he was a senior research scholar.

He is a former deputy special envoy for Iran, principal deputy co-ordinator for sanctions policy at the State Department and director for Iran on the National Security Staff.

Mr Price said the role “demonstrates the importance the United States places on anti-corruption as a core national security interest”.

“This position is designed to integrate and elevate the fight against corruption across all aspects of US diplomacy and foreign assistance, working closely with inter-agency and international partners,” he said.

Tamkeen's offering
  • Option 1: 70% in year 1, 50% in year 2, 30% in year 3
  • Option 2: 50% across three years
  • Option 3: 30% across five years 
Aldar Properties Abu Dhabi T10

*November 15 to November 24

*Venue: Zayed Cricket Stadium, Abu Dhabi

*Tickets: Start at Dh10, from ttensports.com

*TV: Ten Sports

*Streaming: Jio Live

*2017 winners: Kerala Kings

*2018 winners: Northern Warriors

Other ways to buy used products in the UAE

UAE insurance firm Al Wathba National Insurance Company (AWNIC) last year launched an e-commerce website with a facility enabling users to buy car wrecks.

Bidders and potential buyers register on the online salvage car auction portal to view vehicles, review condition reports, or arrange physical surveys, and then start bidding for motors they plan to restore or harvest for parts.

Physical salvage car auctions are a common method for insurers around the world to move on heavily damaged vehicles, but AWNIC is one of the few UAE insurers to offer such services online.

For cars and less sizeable items such as bicycles and furniture, Dubizzle is arguably the best-known marketplace for pre-loved.

Founded in 2005, in recent years it has been joined by a plethora of Facebook community pages for shifting used goods, including Abu Dhabi Marketplace, Flea Market UAE and Arabian Ranches Souq Market while sites such as The Luxury Closet and Riot deal largely in second-hand fashion.

At the high-end of the pre-used spectrum, resellers such as Timepiece360.ae, WatchBox Middle East and Watches Market Dubai deal in authenticated second-hand luxury timepieces from brands such as Rolex, Hublot and Tag Heuer, with a warranty.

UPI facts

More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions

Best Foreign Language Film nominees

Capernaum (Lebanon)

Cold War (Poland)

Never Look Away (Germany)

Roma (Mexico)

Shoplifters (Japan)

UAE currency: the story behind the money in your pockets
RESULTS

5pm: Rated Conditions (PA) Dh85,000 (Turf) 1,600m
Winner: AF Mouthirah, Tadhg O’Shea (jockey), Ernst Oertel (trainer)

5.30pm: Maiden (PA) Dh80,000 (T) 1,400m
Winner: AF Alajaj, Tadhg O’Shea, Ernst Oertel

6pm: Wathba Stallions Cup Handicap (PA) Dh70,000 (T) 1,400m
Winner: Hawafez, Connor Beasley, Abubakar Daud

6.30pm: Maiden (PA) Dh80,000 (T) 2,200m
Winner: Tair, Fabrice Veron, Eric Lemartinel

7pm: Handicap (PA) Dh80,000 (T) 2,200m
Winner: Wakeel W’Rsan, Richard Mullen, Jaci Wickham

7.30pm: Handicap (PA) Dh100,000 (T) 2,400m
Winner: Son Of Normandy, Fernando Jara, Ahmad bin Harmash

Our legal consultant

Name: Dr Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

Five famous companies founded by teens

There are numerous success stories of teen businesses that were created in college dorm rooms and other modest circumstances. Below are some of the most recognisable names in the industry:

  1. Facebook: Mark Zuckerberg and his friends started Facebook when he was a 19-year-old Harvard undergraduate. 
  2. Dell: When Michael Dell was an undergraduate student at Texas University in 1984, he started upgrading computers for profit. He starting working full-time on his business when he was 19. Eventually, his company became the Dell Computer Corporation and then Dell Inc. 
  3. Subway: Fred DeLuca opened the first Subway restaurant when he was 17. In 1965, Mr DeLuca needed extra money for college, so he decided to open his own business. Peter Buck, a family friend, lent him $1,000 and together, they opened Pete’s Super Submarines. A few years later, the company was rebranded and called Subway. 
  4. Mashable: In 2005, Pete Cashmore created Mashable in Scotland when he was a teenager. The site was then a technology blog. Over the next few decades, Mr Cashmore has turned Mashable into a global media company.
  5. Oculus VR: Palmer Luckey founded Oculus VR in June 2012, when he was 19. In August that year, Oculus launched its Kickstarter campaign and raised more than $1 million in three days. Facebook bought Oculus for $2 billion two years later.

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

Tips to keep your car cool
  • Place a sun reflector in your windshield when not driving
  • Park in shaded or covered areas
  • Add tint to windows
  • Wrap your car to change the exterior colour
  • Pick light interiors - choose colours such as beige and cream for seats and dashboard furniture
  • Avoid leather interiors as these absorb more heat

Russia's Muslim Heartlands

Dominic Rubin, Oxford

Updated: July 06, 2022, 7:33 AM