Workers on a building site in Iran's Bushehr nuclear power plant. AFP
Workers on a building site in Iran's Bushehr nuclear power plant. AFP
Workers on a building site in Iran's Bushehr nuclear power plant. AFP
Workers on a building site in Iran's Bushehr nuclear power plant. AFP

IAEA chief touts alternative to Iran nuclear deal to break impasse


Laura O'Callaghan
  • English
  • Arabic

The head of the UN’s nuclear watchdog has suggested an alternative agreement to the landmark Iran nuclear deal could break the deadlock in talks between the regime and world powers.

Rafael Grossi, director general of the International Atomic Energy Agency, said the coming weeks and months would be crucial in determining the direction the talks take.

Mr Grossi warned the Chatham House think tank in London on Tuesday against adopting a defeatist approach to the signatories’ sluggish efforts to revive the Joint Comprehensive Plan of Action.

The landmark accord signed in 2015 collapsed after then US president Donald Trump pulled out in 2018 and reinstated severe banking and oil sanctions on Iran.

Mr Grossi floated the idea of an alternative deal as a means to break the stagnation.

“Europe has been a very strong advocate of JCPOA,” he said.

“Of course, the geostrategic factors are weighing because it's not so far away and the Middle East consideration that we were mentioning is very important.

“I think in the case of Europe, it is very important that they continue to support us in trying to find a viable way forward — JCPOA or no JCPOA.

IAEA director general Rafael Grossi at Chatham House on February 7. AP
IAEA director general Rafael Grossi at Chatham House on February 7. AP

“What we need to make sure is that we have the necessary elements to make sure that there is no proliferation, that this [nuclear] programme does not cross a line.

"And that might be through something like the JCPOA or something else. On this I’m neutral.”

Mr Grossi said the IAEA, based in Vienna, would be willing to “provide the monitoring elements to help Iran give the assurances they say they want to give the world that there is no deviation of nuclear material”.

But he said the watchdog’s role was strictly non-political.

Mr Grossi denied the IAEA was giving the international community a false sense of security by saying Iran does not have nuclear weapons.

He said the watchdog had inspectors in Iran every day and although access to some nuclear sites was restricted they had a good idea of the situation.

Mr Grossi denied the suggestion that Russia’s growing bond with Iran could somehow block the IAEA’s work to monitor the regime’s nuclear programme.

“Russia has no ability to obstruct the IAEA’s work in Iran,” he told the audience.

Mr Grossi said that despite the lack of progress in talks aimed at bringing about a return of the nuclear deal, he remained optimistic.

“I wouldn't despair in the sense that the JCPOA cannot be revived,” he said.

“I'm not saying yes JCPOA [or] no JCPOA. The important thing is to keep the non-proliferation rule strongly in place, and so we will see.

“The next few weeks and months will be crucial to determine whether there is a possibility.”

Mr Grossi emphasised the urgency to strike an agreement.

“It is the gap that worries me at this point in time because we are losing the visibility and the programme continues to work," he said.

"This is why I need to go to Tehran. We need to talk and we need to do it soon.”

Why it pays to compare

A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.

Route 1: bank transfer

The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.

Total cost: Dh567.25 - around 2.9 per cent of the total amount

Total received: €4,670.30 

Route 2: online platform

The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.

Total cost: Dh74.10, around 0.4 per cent of the transaction

Total received: €4,756

The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.

A timeline of the Historical Dictionary of the Arabic Language
  • 2018: Formal work begins
  • November 2021: First 17 volumes launched 
  • November 2022: Additional 19 volumes released
  • October 2023: Another 31 volumes released
  • November 2024: All 127 volumes completed
The lowdown

Rating: 4/5

Kanguva
Director: Siva
Stars: Suriya, Bobby Deol, Disha Patani, Yogi Babu, Redin Kingsley
Rating: 2/5
 
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The specs: 2018 BMW R nineT Scrambler

Price, base / as tested Dh57,000

Engine 1,170cc air/oil-cooled flat twin four-stroke engine

Transmission Six-speed gearbox

Power 110hp) @ 7,750rpm

Torque 116Nm @ 6,000rpm

Fuel economy, combined 5.3L / 100km

Updated: February 07, 2023, 9:56 PM