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Iran warns of 3rd step to cut nuclear deal commitments

Iran warns of 3rd step to cut nuclear deal commitments

Iranian president offers another period of 2 months for European countries to protect 2015 nuclear deal

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Iran will soon take a third step in reducing its commitments under the nuclear deal in response to European countries failing to meet their commitments, said Iran’s president on Wednesday.

"We will announce the third step which will accelerate the activities of Iran's nuclear program," Hassan Rouhani said following a government meeting over the 2015 deal, Iranian state TV Al-Alam reported.

"Tehran will give Europe an additional two months to salvage the agreement," he added.

The Iranian threat came after it hinted at its intention to boost uranium enrichment.

Iranian Deputy Foreign Minister Abbas Araghchi earlier said that his country would abide by its commitments under the deal in return for a $15 billion credit from the EU or allowing it to sell its oil, according to Iran’s Fars News Agency.

The process of reducing Iran's commitments will continue if its conditions are not met, he added.

Iran is demanding that the European countries that were part of the deal to protect it after the U.S. withdrew from it in May 2018.

After its withdrawal, the U.S. imposed economic sanctions on companies that deal with Iran.

To protect the deal, France, Britain, and Germany formed a mechanism that assist and reassure economic operators pursuing legitimate business with Iran.

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