INSEAD Day 4 - 728x90

Borouge okays $656m dividend

The company said dividend reflects its resilience

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

Blinken says Iran moved ‘backwards’ in nuclear deal talks

US Secretary of State Antony Blinken says Iran's reply on nuclear deal is a step 'backwards'.
  • European mediators last month appeared to make progress in restoring the 2015 accord as Iran largely agreed to a proposed final text.
  • President Joe Biden supports restoring the agreement, under which Iran will enjoy sanctions relief and again be able to sell its oil worldwide.

Iran’s latest reply on a nuclear deal is a step “backwards,” US Secretary of State Antony Blinken said Friday, insisting Washington would not rush to rejoin at any cost.

European mediators last month appeared to make progress in restoring the 2015 accord as Iran largely agreed to a proposed final text.

But optimism dimmed when the United States sent a reply, to which Iran in turn responded.

“In past weeks, we’ve closed some gaps. Iran has moved away from some extraneous demands — demands unrelated to the JCPOA itself,” Blinken told reporters, using the acronym for the 2015 Joint Comprehensive Plan of Action.

“However, the latest response takes us backwards. And we’re not about to agree to a deal that doesn’t meet our bottom-line requirements,” he said.

“If we conclude a deal, it’s only because it will advance our national security.”

President Joe Biden supports restoring the agreement, under which Iran will enjoy sanctions relief and again be able to sell its oil worldwide in return for tough restrictions on its nuclear programme.

Biden’s predecessor Donald Trump trashed the agreement and instead imposed sweeping new sanctions.

Diplomats say Iran has dropped a demand that Biden lift Trump’s designation of the elite Revolutionary Guards as a terrorist group, a key sticking point.

But disputes include Iran’s insistence that the UN nuclear watchdog close a probe into three undeclared sites suspected in previous nuclear work.

While in Brussels, Blinken met virtually with his counterparts from Britain, France and Germany, which remain in the accord.