Saturday , October 19 2019
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Iran Nuclear Deal: Better Late Than Never?

Summary:
Today has seen a curious coincidence that I have seen nobody else comment on regarding the  status of the JCPOA Iran nuclear deal.  On the one hand Iran has apparently now officially violated the agreement in terms of the amount of low level enriched uranium it has, going over the allowed limit, although it remains very far from obtaining in nuclear weapons. On the other the EU, more specifically and especially France and Germany, have gotten their alternative payment mechanism, Instex, operational.  This has been set up to allow European companies to deal with Iran without using dollars or the US-controlled SWIFT clearing system.However, it is only initially going to deal with non-sensitive items like food and pharmaceuticals, not other goods, at least not now.  The Iranians have made it

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Today has seen a curious coincidence that I have seen nobody else comment on regarding the  status of the JCPOA Iran nuclear deal.  On the one hand Iran has apparently now officially violated the agreement in terms of the amount of low level enriched uranium it has, going over the allowed limit, although it remains very far from obtaining in nuclear weapons. On the other the EU, more specifically and especially France and Germany, have gotten their alternative payment mechanism, Instex, operational.  This has been set up to allow European companies to deal with Iran without using dollars or the US-controlled SWIFT clearing system.

However, it is only initially going to deal with non-sensitive items like food and pharmaceuticals, not other goods, at least not now.  The Iranians have made it clear that for them to keep to the JCPOA the Europeans need to more fully offset the US sanctions.  That is not happening, not at least now, although the possibility is there.

So, this may be too late, but maybe Iran will not get too far above the limits.  Maybe there is still a chance to more seriously offset Trump's illegal sanctions.

Barkley Rosser

rosserjb@jmu.edu
I remember how loud it was. I was a young Economics undergraduate, and most professors didn’t really slam points home the way Dr. Rosser did. He would bang on the table and throw things around the classroom. Not for the faint of heart, but he definitely kept my attention and made me smile. It is hard to not smile around J. Barkley Rosser, especially when he gets going on economic theory. The passion comes through and encourages you to come along with it in a truly contagious way. After meeting him, it is as if you can just tell that anybody who knows that much and has that much to say deserves your attention.

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