Britain Exploring Ways of Mitigating Iran's Economic Situation

EghtesadOnline: Although the effects of American sanctions on Iran's economy cannot be negated, Britain is cooperating with Tehran in good faith to find ways to mitigate the situation, a British diplomat said.

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04 November 2019

"We, along with France, Germany, China and Russia, make every effort so that Iran can continue to enjoy the benefits of JCPOA [Joint Comprehensive Plan of Action]" Rob Macaire, Britain's ambassador to Tehran, said in a video in Persian posted on the embassy's Instagram page.

He used the abbreviation of the formal name of the nuclear deal that was signed between Iran and the six world powers in 2015, but from which the US exited last year, reimposing sweeping sanctions on Tehran.

The remaining parties, including Britain, pledged to shield Iran against American pressure, but their initiatives have not addressed the country's economic problems in a satisfactory manner, according to Financial Tribune.

Iran has blamed Europe for failing to fulfill its commitments under the deal and began a reciprocal plan in May by reducing its compliance in a phased manner.

Three stages of the plan have been implemented so far and the fourth will be taken in a few days unless Iran's demands are met, in which case all past moves will be reversed.

Pointing to the important decision that Tehran is set to make in the coming weeks about the future of JCPOA, Macaire stressed that Britain's commitment to JCPOA is "real" and that London wants the agreement to survive.

He, therefore, recorded the video to explain what he described as misconceptions about the nuclear deal, namely the belief "that Europe is not honoring its commitments under JCPOA and that Iran has derived no benefit from the agreement".

The British diplomat named four commitments that Europe made within the deal's framework, including the lifting of European Union economic sanctions related to Iran's nuclear program and the United Nations sanctions against certain individuals and organizations.

"Third, assisting Iran to conduct a non-military nuclear program which we are doing, as our nuclear experts' trip last week indicated."

The fourth measure was to improve trade between Iran and Europe, which Macaire said Europe is making every effort to pursue.

"For instance, the British Embassy last month supported more than 100 companies to engage in trade with Iran."

Nevertheless, Iran's main demand is to be able to export its oil and repatriate its revenues, major requirements of its oil-dependent economy that have been currently troubled by US sanctions.

Macaire maintained that finding a diplomatic solution is "essential" and "possible", but it would be unfavorable if Tehran took steps that would lead to the collapse of the deal “that will bring this unique country more key advantages than now".