Doubts cast by US President Donald J. Trump about the future of the nuclear deal with Iran, US sanctions that have restricted access to foreign financing, and a tight budget have hampered the Islamic Republic’s ability to secure significant investments in renewable energy.
International banks have been reluctant to finance new energy projects in Iran as a result of Trump’s criticism of the nuclear deal that was reached between Iran, the United Kingdom, Germany, France, Russia, China, and the United States in 2015. This reluctance is compounded by the fact that numerous Iranian energy companies are supervised by the Islamic Revolutionary Guard Corps, which is subject to US sanctions.
Recent power struggles in Riyadh, the shooting down of a Yemeni missile over the Saudi capital, and rising Saudi alarm over Iran’s strengthening position in the Middle East have created a potentially deadly brew of instability.
“The bottom line is the agreement is good for Israel,” Uzi Eilam told a small group in Washington on Tuesday assembled by the liberal Jewish group, J-Street.
As more countries, including members of the Gulf Cooperation Council (GCC) develop nuclear infrastructures to meet growing energy demands, it is essential to build on the JCPOA and further enhance the NPT by pursuing Weapons of Mass Destruction (WMD) Free Zones with the objective of inhibiting proliferation, as well as ensuring the peaceful nature of new nuclear programs.
On Friday, he sought to foist that responsibility on the US Congress but the decision ultimately remains with him.
Certification of the agreement every 90 days by the American administration is not part of the JCPOA. Rather, it was imposed on the Obama administration by the Republican-led Congress, which passed the Iran Nuclear Agreement Review Act (INARA) in 2015 to increase leverage on Iran to stick to the deal’s requirements. President Trump certified Iranian compliance twice, but he appears reluctant to do so again by an Oct. 15 deadline.
The US views those missile tests as provocative, and while technically not a breach of JCPOA, they come in defiance of UN Security Council Resolution 2231 which “calls upon Iran not to undertake any activity related to ballistic missiles designed to be capable of delivering nuclear weapons…”