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Europeans, Iran to cross swords at nuclear talks

European powers will demand Iran stop violating their nuclear deal or potentially face renewed UN sanctions, but with Tehran locked in conflict over US sanctions, there appears to be little scope for compromise when they meet on Friday.
The meeting comes amid heightened friction between Iran and the West. Tehran has rolled back its commitments under the 2015 deal in response to Washington’s pullout from it last year and reimposition of sanctions that have crippled its economy.
The Europeans and Tehran on Thursday clashed over Iran’s ballistic missile program before senior diplomats from the remaining parties to the deal, Britain, China, France, Germany and Russia, meet with Iranian officials in Vienna on Friday.
As the accord has slowly eroded, the Europeans have been torn between trying to save it and responding to Iran’s breaches, which have increasingly tested their patience.
Iran’s violations have included exceeding the maximum amount of enriched uranium it is allowed under the deal and resuming enrichment at Fordow, a site buried inside a mountain that Iran hid from UN nuclear inspectors.
“I think the window for a negotiation and to save the deal is barely open,” said a European diplomat.
The Europeans are considering triggering a mechanism in the deal that could lead to the reimposition of UN sanctions.
Three diplomats said the political decision was unlikely to be made until January, when Iran is expected to reduce further its commitments to the pact, under which it curtailed its nuclear activities in return for relief from sanctions.
“The European parties to the deal should know that the clock is ticking for them. They try to keep Iran in the deal but then take no action against America’s bullying and pressure,” said a senior Iranian official.
Tehran has repeatedly criticized the three European powers for failing to shield Iran’s economy from the far-reaching US sanctions, which have driven away foreign companies interested in doing business there.
Highlighting the widening gap between the two sides, Iran’s foreign minister on Thursday said the three had shown their “miserable incompetence” in fulfilling their commitments.
He was responding after they sent a letter to the UN Security Council accusing Tehran of having nuclear-capable ballistic missiles.
“I don’t think the Europeans have reached their red line yet, but the repeated violations and the fact we’re now entering proliferation territory means their credibility is on the line,” said a Western diplomat.
Two diplomats said the Europeans hoped to announce soon the first transaction of a mechanism for barter trade called Inset that would net out amounts at either end for humanitarian goods. But even European diplomats acknowledge the mechanism is symbolic rather than a deal-saving device.
source: Reuters
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BENEFIT AGM approves 10%...
- March 27, 2025
BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, held its Annual General Meeting (AGM) at the company’s headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM held on 26 March 2024. The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended 31 December 2024. Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the Board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, the shareholders endorsed the allocation of a total amount of BD 172,500 as remuneration to the members of the Board for the year ended 31 December 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks. The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law.
In alignment with regulatory requirements, the session approved the reappointment of Ernst & Young (EY) as the company’s External Auditors for the fiscal year 2025, covering both the parent company and its subsidiaries—Sinnad and Bahrain FinTech Bay. The Board was authorised to determine the external auditors’ professional fees, subject to approval from the CBB, and the meeting concluded with a discussion of any additional issues as per Article (207) of the Commercial Companies Law.
Speaking on the company’s performance, Mr. Mohamed Al Bastaki, Chairman BENEFIT , stated: “In terms of the financial results for 2024, I am pleased to say that the year gone by has also been proved to be a success in delivering tangible results. Growth rate for 2024 was 19 per cent. Revenue for the year was BD 17 M (US$ 45.3 Million) and net profit was 2 Million ($ 5.3 Million).
Mr. Al Bastaki also announced that the Board had formally adopted a new three-year strategic roadmap to commence in 2025. The strategy encompasses a phased international expansion, optimisation of internal operations, enhanced revenue diversification, long-term sustainability initiatives, and the advancement of innovation and digital transformation initiatives across all service lines.
“I extend my sincere appreciation to the CBB for its continued support of BENEFIT and its pivotal role in fostering a stable and progressive regulatory environment for the Kingdom’s banking and financial sector—an environment that has significantly reinforced Bahrain’s standing as a leading financial hub in the region,” said Mr. Al Bastaki. “I would also like to thank our partner banks and valued customers for their trust, and our shareholders for their ongoing encouragement. The achievements of 2024 set a strong precedent, and I am confident they will serve as a foundation for yet another successful and impactful year ahead.”
Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi commented, “The year 2024 represented another pivotal chapter in BENEFIT ’s evolution. We achieved substantial progress in advancing our digital strategy across multiple sectors, while reinforcing our long-term commitment to the development of Bahrain’s financial services and payments landscape. Throughout the year, we remained firmly aligned with our objective of delivering measurable value to our shareholders, strategic partners, and customers. At the same time, we continued to play an active role in enabling Bahrain’s digital economy by introducing innovative solutions and service enhancements that directly address market needs and future opportunities.”
Mr. AlJanahi affirmed that BENEFIT has successfully developed a robust and well-integrated payment network that connects individuals and businesses across Bahrain, accelerating the adoption of emerging technologies in the banking and financial services sector and reinforcing Bahrain’s position as a growing fintech hub, and added, “Our achievements of the past year reflect a long-term vision to establish a resilient electronic payment infrastructure that supports the Kingdom’s digital economy. Key developments in 2024 included the implementation of central authentication for open banking via BENEFIT Pay”
Mr. AlJanahi concluded by thanking the Board for its strategic direction, the company’s staff for their continued dedication, and the Central Bank of Bahrain, member banks, and shareholders for their valuable partnership and confidence in the company’s long-term vision.
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