Talks in Vienna over a resurrection of the 2015 Iran nuclear deal resumed on Tuesday, but while some officials have voiced cautious optimism that a deal may be in sight, the US has warned that time is running out.
The eighth round of EU-convened negotiations between China, France, Germany, Iran, Russia, the UK and, indirectly, the US, paused last month as envoys returned to their capitals for consultations.
Both Iran and the US say there have been signs of progress, but each side has put the onus on the other to deliver. In a conciliatory move last week, the US announced it was waiving sanctions on Iran’s civil nuclear programme.
Former US president Donald Trump unilaterally withdrew his country from the 2015 deal in 2018 and reimposed heavy sanctions on Iran, after which Tehran stepped up its nuclear activities.
In what was interpreted as a gesture to the final phase of talks, Washington earlier this week restored sanctions waivers for Iran that would allow international nuclear co-operation projects.
It remains to be seen if that will be enough to shift Iran on its position that all sanctions must go. Mark Fitzpatrick, an associate fellow at the International Institute for Strategic Studies and former acting deputy assistant secretary for non-proliferation at the US State Department, said the issue of all the Trump-era sanctions being removed remains a sticking point.
“I see little sign that Iran is ready to make the kind of compromises that would be necessary for a deal. It will need to adjust its demands for 'all' Trump-era sanctions to be removed, for there to be guarantees no future president would again abandon the deal, and for lifting of US sanctions to be verified before Iran returns to the deal,” he told The National.
The European Union's foreign policy chief Josep Borrell said on Tuesday that: "There is a US offer, there is a counter-offer. I don't if know it's going to be one week, two weeks, three weeks, but certainly we are in the last steps of the negotiation."
Mr Borrell, who was speaking during a visit to Washington, said reaching agreement on the lifting of sanctions and the rollback of Iran's nuclear activities was "the most important problem" but that he was hopeful of a breakthrough "because both sides have been showing willingness."
The 2015 deal gave Iran sanctions relief in return for curbs on its nuclear programme, which Tehran insists is for peaceful purposes.
A key issue is that some of the sanctions imposed by Mr Trump are related to terrorism and human rights, not Iran's nuclear programme.
The administration of Joe Biden, Mr Trump’s successor, has signalled that it wants a return to the deal, but says that time is running out.
Sanam Vakil, a senior research fellow at Chatham House, wrote last month that “while Iran has demanded that all Trump-era sanctions are lifted” the Biden administration is unlikely to lift non-nuclear sanctions.
“If Iran does not make the necessary compromises in the next couple of weeks, then I think the US will decide there is no point in prolonging the negotiations and will instead look to other means to try to restrict Iran's enrichment capabilities," said Mr Fitzpatrick.
“If, however, Iran does show readiness to compromise and a deal is 'nearly there,' then the deadline for finishing the talks will be more elastic, and could last beyond two weeks,” he added.
Washington has sought direct negotiations with Tehran in the current stretch, but said talks remain indirect at Iran's request.
“A deal that addresses all sides' core concerns is in sight, but if it is not reached in the coming weeks, Iran's ongoing nuclear advances will make it impossible for us to return [to the accord]", a US State Department spokesman said on Monday.
Iranian foreign ministry spokesman Saeed Khatibzadeh said that answers that “the US brings … to Vienna will determine when we can reach an agreement”.
“We have made significant progress in various areas of the Vienna negotiations,” Mr Khatibzadeh said. The areas include guarantees sought by Iran that the US would not breach the deal once again, he said.
German Chancellor Olaf Scholz described it as “the decisive moment” for the talks.
“We gave them a clear message that now this is the time for decisions and for progress, and not for prolonging the process,” he told The Washington Post. “We hope that they will use the chance.”
“We are five minutes away from the finish line,” Russian negotiator Mikhail Ulyanov said in an interview with Russian newspaper Kommersant.
“A draft of the final document has been crafted. There are several points there that need more work, but that document is already on the table.”
Twenty-Six US Senators, including Ted Cruz, have written to Mr Biden and demanded that their voices be heard at the Vienna negotiations. Mr Cruz and other Republican Senators criticised the original 2015 deal for not being tough enough on Iran.
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
History's medical milestones
1799 - First small pox vaccine administered
1846 - First public demonstration of anaesthesia in surgery
1861 - Louis Pasteur published his germ theory which proved that bacteria caused diseases
1895 - Discovery of x-rays
1923 - Heart valve surgery performed successfully for first time
1928 - Alexander Fleming discovers penicillin
1953 - Structure of DNA discovered
1952 - First organ transplant - a kidney - takes place
1954 - Clinical trials of birth control pill
1979 - MRI, or magnetic resonance imaging, scanned used to diagnose illness and injury.
1998 - The first adult live-donor liver transplant is carried out
Dubai Bling season three
Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed
Rating: 1/5
The specs
Engine: 2-litre or 3-litre 4Motion all-wheel-drive Power: 250Nm (2-litre); 340 (3-litre) Torque: 450Nm Transmission: 8-speed automatic Starting price: From Dh212,000 On sale: Now
COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%203S%20Money%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202018%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20London%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Ivan%20Zhiznevsky%2C%20Eugene%20Dugaev%20and%20Andrei%20Dikouchine%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20FinTech%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%3C%2Fstrong%3E%20%245.6%20million%20raised%20in%20total%3C%2Fp%3E%0A
About Proto21
Date started: May 2018
Founder: Pir Arkam
Based: Dubai
Sector: Additive manufacturing (aka, 3D printing)
Staff: 18
Funding: Invested, supported and partnered by Joseph Group
David Haye record
Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4
AI traffic lights to ease congestion at seven points to Sheikh Zayed bin Sultan Street
The seven points are:
Shakhbout bin Sultan Street
Dhafeer Street
Hadbat Al Ghubainah Street (outbound)
Salama bint Butti Street
Al Dhafra Street
Rabdan Street
Umm Yifina Street exit (inbound)
Nepotism is the name of the game
Salman Khan’s father, Salim Khan, is one of Bollywood’s most legendary screenwriters. Through his partnership with co-writer Javed Akhtar, Salim is credited with having paved the path for the Indian film industry’s blockbuster format in the 1970s. Something his son now rules the roost of. More importantly, the Salim-Javed duo also created the persona of the “angry young man” for Bollywood megastar Amitabh Bachchan in the 1970s, reflecting the angst of the average Indian. In choosing to be the ordinary man’s “hero” as opposed to a thespian in new Bollywood, Salman Khan remains tightly linked to his father’s oeuvre. Thanks dad.
TV: World Cup Qualifier 2018 matches will be aired on on OSN Sports HD Cricket channel
The bio
Job: Coder, website designer and chief executive, Trinet solutions
School: Year 8 pupil at Elite English School in Abu Hail, Deira
Role Models: Mark Zuckerberg and Elon Musk
Dream City: San Francisco
Hometown: Dubai
City of birth: Thiruvilla, Kerala
THE BIO
Favourite author - Paulo Coelho
Favourite holiday destination - Cuba
New York Times or Jordan Times? NYT is a school and JT was my practice field
Role model - My Grandfather
Dream interviewee - Che Guevara
Racecard
6pm: Mina Hamriya – Handicap (TB) $75,000 (Dirt) 1,400m
6.35pm: Al Wasl Stakes – Conditions (TB) $60,000 (Turf) 1,200m
7.10pm: UAE Oaks – Group 3 (TB) $150,000 (D) 1,900m
7.45pm: Blue Point Sprint – Group 2 (TB) $180,000 (T) 1,000m
8.20pm: Nad Al Sheba Trophy – Group 3 (TB) $200,000 (T) 2,810m
8.55pm: Mina Rashid – Handicap (TB) $80,000 (T) 1,600m
The specs
Engine: 3.8-litre twin-turbo flat-six
Power: 650hp at 6,750rpm
Torque: 800Nm from 2,500-4,000rpm
Transmission: 8-speed dual-clutch auto
Fuel consumption: 11.12L/100km
Price: From Dh796,600
On sale: now