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Iran announces further scale back of its commitments to 2015 nuclear deal

Iran announced Sunday it will raise its level of uranium enrichment, breaking another limit of its unraveling 2015 nuclear deal with world powers and further heightening tensions between Tehran and the US.
Officials told a news conference the new level would be reached later Sunday, but did not provide a percentage. Government spokesman Ali Rabiei said the new level “will be based on our needs.” Under the faltering nuclear deal, the cap for enrichment had been set at 3.67 percent.
The officials suggested the latest steps did not close the door to diplomatic efforts to save the deal. “Opportunity will be available for diplomacy,” said Abbas Araghchi, Iran’s Deputy Foreign Minister.
Iran threatened to abandon more commitments under the nuclear agreement in “60 days” unless a solution is found with signatories to the endangered deal.
“We hope we can reach a solution otherwise after 60 days we will take the third step as well,” Araghchi said, singling out Iran’s declining oil sales as one of the main issues that needed to be solved.
French President Emmanuel Macron spoke to his Iranian counterpart, Hassan Rouhani, by phone Saturday, saying he is trying to find a way by July 15 to resume dialogue between Iran and Western partners.
Araghchi said Sunday that discussions with the Europeans are continuing.
Araghchi added that Tehran has “given enough time to diplomacy,” and that its reduction of its commitments is not a violation of the pact. He said that Iran wants the 2015 nuclear deal to be salvaged, and demanded that obligations be fulfilled by other parties.
The Europeans have failed to fulfill their commitments under the 2015 nuclear deal, Araghchi said. “The doors of diplomacy are still open, but new initiatives are required,” he added.
Iran also said it has the capability to restore the Arak Heavy Water Reactor Facility, and that it will act based on Tehran’s needs.
Araghchi said if all sanctions on Tehran are lifted, “then the US can enter nuclear talks.”
“From our point of view if the US wants to participate in talks between Iran and 4+1 countries, it is possible,” he said, referring to the European parties to the deal.
Yet hopes for saving the faltering deal appear increasingly dim, as the Europeans have been unable to offer Iran any effective way around US sanctions.
While the Iranian steps are concerning to nuclear non-proliferation experts, they could be easily reversible if Europeans offer Iran the sanctions relief it seeks.
Iran’s decision came a year after President Donald Trump unilaterally withdrew from the deal.
Iran has repeatedly warned Europe in recent weeks that it would begin walking away from an accord neutered by a maximalist American campaign of sanctions that blocked Tehran’s oil sales abroad and targeted its top officials.
Sunday’s announcement came less than a week after Iran acknowledged breaking the deal’s 300-kilogram limit on its low-enriched uranium stockpile.
Experts warn higher enrichment and a growing stockpile narrow the one-year window Iran would need to have enough material for an atomic bomb, something Iran denies it wants but the deal prevented.
Under the 2015 atomic accord, Iran agreed to enrich uranium to no more than 3.67 percent, which is enough for peaceful pursuits but is far below weapons-grade levels of 90 percent.
Iran denies it seeks nuclear weapons, but the nuclear deal sought to prevent that as a possibility by limiting enrichment and Iran’s stockpile of uranium to 300 kilograms.
Iran’s foreign minister is to inform European Union leaders of the decision concerning uranium enrichment, officials said Sunday.
The spokesman for Iran’s nuclear department, Behrouz Kamalvandi, said Sunday that technical preparations for the new level of enrichment will be completed “within several hours and enrichment over 3.67 percent will begin.”
He says monitoring will show the increased level by Monday morning.
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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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