Halt to Iran’s nuclear programme ‘could start as early as next month’


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VIENNA // Iran’s six-month freeze of its nuclear programme could begin as early as next month, Tehran’s envoy to the UN atomic watchdog said yesterday.

The breakthrough accord struck on Sunday between Iran and the United States, China, Russia, Britain, France and Germany, foresees Iran rolling back some of its nuclear programme temporarily in exchange for sanctions relief.

“We expect that either at the end of December or the beginning of January we should start implementing the measures agreed by both sides,” said Reza Najafi, envoy to the International Atomic Energy Agency.

The six-month freeze is meant to make it more difficult for Iran to develop a nuclear weapon and to build confidence while Tehran and the six world powers hammer out a long-term agreement.

Iran has pledged to limit uranium enrichment to low fissile purities. It will also lower the purity of its stockpile of medium-enriched material, which is relatively easy to convert to weapons-grade, or convert it to another form.

Iran also committed for six months “not to make further advances” at its Fordo and Natanz uranium enrichment sites and at the Arak heavy water reactor, which could provide Iran with weapons-grade plutonium once operating.

The Islamic republic, subject to UN and Western sanctions, will continue enriching uranium to low levels and it will retain its stockpile of low-enriched material.

It had been unclear when the accord was to take effect, with technical discussions between Iran, the powers and the IAEA, whose job verifying Tehran’s compliance will be key, set to hammer out the details.

“We have had preliminary discussions with the agency with regard to the nuclear-related measures ... to be verified by the agency,” Mr Najafi said “We are going to continue those discussions.”

Meanwhile, Iran made it clear that Israel would not be part of long-term talks on their nuclear programme.

The foreign minister Minister Mohammad Javad Zarif said the Islamic Republic “would not attend a meeting in which the occupying regime participates”.

Iranian officials routinely refer to Israel that way because it controls Palestinian territories.

Mr Zarif’s remarks were in response to possible Israeli participation in nuclear talks. Iran’s news agency, IRNA, did not elaborate on source of the reports on Israel’s possible presence.

“Never such a thing will happen and we definitely we will not be in the room in which representatives from the Zionist regime will have presence,” Mr Zarif said.

* Agence France-Presse with additional reporting by Reuters

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PREMIER LEAGUE FIXTURES

Saturday (UAE kick-off times)

Watford v Leicester City (3.30pm)

Brighton v Arsenal (6pm)

West Ham v Wolves (8.30pm)

Bournemouth v Crystal Palace (10.45pm)

Sunday

Newcastle United v Sheffield United (5pm)

Aston Villa v Chelsea (7.15pm)

Everton v Liverpool (10pm)

Monday

Manchester City v Burnley (11pm)

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How to get exposure to gold

Although you can buy gold easily on the Dubai markets, the problem with buying physical bars, coins or jewellery is that you then have storage, security and insurance issues.

A far easier option is to invest in a low-cost exchange traded fund (ETF) that invests in the precious metal instead, for example, ETFS Physical Gold (PHAU) and iShares Physical Gold (SGLN) both track physical gold. The VanEck Vectors Gold Miners ETF invests directly in mining companies.

Alternatively, BlackRock Gold & General seeks to achieve long-term capital growth primarily through an actively managed portfolio of gold mining, commodity and precious-metal related shares. Its largest portfolio holdings include gold miners Newcrest Mining, Barrick Gold Corp, Agnico Eagle Mines and the NewMont Goldcorp.

Brave investors could take on the added risk of buying individual gold mining stocks, many of which have performed wonderfully well lately.

London-listed Centamin is up more than 70 per cent in just three months, although in a sign of its volatility, it is down 5 per cent on two years ago. Trans-Siberian Gold, listed on London's alternative investment market (AIM) for small stocks, has seen its share price almost quadruple from 34p to 124p over the same period, but do not assume this kind of runaway growth can continue for long

However, buying individual equities like these is highly risky, as their share prices can crash just as quickly, which isn't what what you want from a supposedly safe haven.

About Krews

Founder: Ahmed Al Qubaisi

Based: Abu Dhabi

Founded: January 2019

Number of employees: 10

Sector: Technology/Social media 

Funding to date: Estimated $300,000 from Hub71 in-kind support

 

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Company profile

Name: Fruitful Day

Founders: Marie-Christine Luijckx, Lyla Dalal AlRawi, Lindsey Fournie

Based: Dubai, UAE

Founded: 2015

Number of employees: 30

Sector: F&B

Funding so far: Dh3 million

Future funding plans: None at present

Future markets: Saudi Arabia, potentially Kuwait and other GCC countries

FIGHT%20CARD
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