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Wednesday, 20 October 2021 00:00

Continuation Of The EU-Iran Nuclear Agremment

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Efforts to revive the Nuclear agreement between Iran and the European Union still need time due to the failure of the new round of talks between the two parties in Vienna on Monday, October 18, 2021. Both Iran and the European Union still have to take diplomatic approaches to reach an understanding before meeting again in Brussels.

In the talks in Vienna, Iran was represented by the envoy of President Ibrahim Reisi, who the West highlighted as a hard-line figure. The EU and Iran nuclear deal began to run into problems when the United States withdrew from the agreement during the Trump administration. The approach was taken again, when the Joe Biden administration said it would return to the nuclear deal known as the Joint Comprehensive Plan of Action (JCPOA). The deal, which involved the United States, was signed in 2015 with talks led by European Union High Representative Federica Mogherini. In its implementation which began in 2016, the European Union played an important role as a coordinator to carry out transactions.

On the basis of the JCPOA, the European Union also lifted economic and financial sanctions on Iran related to its nuclear program. Apparently, the nuclear deal has paved the way for the renewal and expansion of relations between the European Union and Iran. The European Union is also investing in Iran's nuclear project safety program. Economically, the JCPOA has had a good impact on the value of exports and imports between the European Union and Iran. In the first year the JCPOA was implemented, it was recorded that EU imports from Iran were 5.5 billion Euros. In contrast, EU exports to Iran reached more than 8 billion euros. EU investment in Iran covers several sectors including energy, automotive and transportation. Therefore, the cessation of a comprehensive agreement between the European Union and Iran can be said to have an economic impact on both parties. The JCPOA was again hindered when Ibrahim Reisi, who is said to be a hardliner, was elected President of Iran in June 2021.

Judging from the merits and benefits of implementing the JCPOA, further discussion is certainly needed. The failure of the talks in Vienna does not mean that the efforts of both the European Union and Iran have stopped. That in Vienna Iran has not been able to reach an agreement, it is very possible because President Ibrahim El Eisi and his government still need to consider several crucial things. Regarding the outcome of the upcoming talks in Brussels, of course it is up to both parties whether there will be progress or will it stop.

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