European powers set for fresh nuclear talks with Iran amid tensions
A German diplomatic source confirmed that Britain, France, and Germany, collectively known as the E3, are coordinating with Tehran to schedule discussions in the coming week.
The E3 recently warned of reactivating international sanctions if Iran refuses to return to negotiations.
Iran's Tasnim news agency also reported that Tehran agreed to hold talks with the three European nations, though details on the timing and location remain under discussion.
'Iran must never be allowed to acquire a nuclear weapon. That is why Germany, France and the United Kingdom are continuing to work intensively in the E3 format to find a sustainable and verifiable diplomatic solution to the Iranian nuclear programme,' the German source said.
Tensions escalated after Israel launched surprise strikes on Iranian military and nuclear sites in June, followed by US attacks on Iran's uranium enrichment facility at Fordo and other nuclear locations. These developments disrupted earlier negotiations mediated by Oman.
Meanwhile, Russian President Vladimir Putin met with Ali Larijani, a top adviser to Iran's supreme leader, to discuss regional stability and the nuclear standoff.
The Kremlin stated that Putin reiterated Russia's stance on resolving the crisis diplomatically.
The 2015 Joint Comprehensive Plan of Action (JCPOA), which imposed restrictions on Iran's nuclear activities in exchange for sanctions relief, has been under strain since the US withdrew in 2018.
European nations have threatened to trigger the deal's 'snapback' mechanism to reimpose sanctions if Iran fails to comply.
Iranian Foreign Minister Abbas Araghchi dismissed the threat, stating that Europe lacks legal or moral grounds for such action.
However, the German source maintained that 'if no solution is reached over the summer, snapback remains an option for the E3.'
Iran has also ruled out new talks with the US if they demand an end to uranium enrichment.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
2 hours ago
- The Star
Roundup: Italian industry warns U.S. tariffs could undermine trade, dent growth
ROME, July 21 (Xinhua) -- A proposed new round of tariffs by the United States could result in a 38-billion-euro (44.4 billion U.S. dollars) loss in Italian exports and reduce the country's gross domestic product (GDP) by 0.8 percent by 2027, Italy's largest industrial association said Monday. The findings were published in a report by the research unit of Confindustria, Italy's main business lobby, amid concerns over rising protectionism and its spillover effects on the global economy. U.S. President Donald Trump has threatened to triple a basic tariff on imports from the EU to 30 percent if Brussels does not cut a deal by the end of the month. "A 30-percent tariff would be unsustainable for Italy," the report stated, warning that such a move would not only significantly reduce trade volumes but also have wider macroeconomic consequences. Ciro Rapacciuolo, senior economist at Confindustria's CSC research center, said the tariff could slash Italian exports by 38 billion euros, equivalent to 58 percent of exports to the United States and around 6 percent of Italy's total exports. Under this scenario, Italy's GDP in 2027 would be 0.8 percent lower than projected under a business-as-usual trajectory, the report said. Beyond trade volumes, the tariff plan is also likely to affect exchange rates, inflation trends, and business confidence. According to CSC, the euro has already strengthened against the U.S. dollar in recent months, with the average exchange rate in July reaching 1.17 U.S. dollars per euro, up from a low of 1.04 in January, a 13.3 percent appreciation that could further challenge European exports to the U.S. market. The report also noted that the anticipated market volatility may push the European Central Bank to consider further interest rate cuts, potentially increasing inflationary pressures. Inflation across the eurozone has stabilized in recent months following the price surges seen during the height of the Russia-Ukraine conflict. Data from Italy's national statistics agency ISTAT showed consumer prices in Italy rose 1.7 percent year-on-year in June, compared to 2.0 percent in the broader euro area. Business sentiment remains fragile. Italy's industrial confidence index stood at 93.9 points in June, which was still below the neutral threshold of 100 and indicated subdued optimism among enterprises. The index is likely to decline further if new tariffs are imposed. Confindustria's warning adds to growing international calls urging Washington to reconsider its protectionist stance and return to multilateral approaches in trade policy.
The Star
2 hours ago
- The Star
Roundup: Germany unveils massive investment plan to boost economy, yet reform seen as crucial
BERLIN, July 21 (Xinhua) -- Germany's government and top corporate leaders on Monday launched a sweeping investment initiative aimed at reviving Europe's largest economy, which has faced prolonged stagnation. But the ambitious plan has met with skepticism, as business leaders warn that meaningful investment depends on long-overdue structural reforms. The initiative, dubbed "Made for Germany," was announced at a business summit attended by German Chancellor Friedrich Merz and executives from leading German and international companies. The plan envisions 631 billion euros (738 billion U.S. dollars) investment through 2028, including already announced projects, and targets key areas such as manufacturing facilities, research and development, and national infrastructure. Alexander Geiser, CEO of communications consultancy FGS Global and a co-initiator of the effort, stated on LinkedIn that over 100 billion euros of the total will come from new capital. However, no further details were disclosed. So far, 61 companies from various sectors have joined the initiative. Alongside founding firms such as Siemens and Deutsche Bank, the list includes BMW, Mercedes-Benz, Volkswagen, Allianz, Airbus, Nvidia, and several high-tech startups. "This is one of the largest investment initiatives we have seen in decades," Merz said, adding that private capital could play a vital role in bolstering public investment. Germany's economy has contracted for two consecutive years and may shrink again in 2025. A lack of public investment for years and a sharp industrial slowdown have worsened the outlook. Business confidence has also declined under the previous government's inconsistent economic policies, causing many companies to hold back on capital spending. In May, the Merz administration announced a separate 500-billion-euro fund aimed at infrastructure development and climate-related projects. It is widely seen as a potential attempt to revive Germany's sluggish investment climate. Rebuilding Germany's industrial standing through advanced technologies has also become a top policy priority. A draft of the government's new Hightech-Agenda unveiled last week outlines investments in artifical intelligence (AI), quantum computing, and climate-neutral energy as key elements of a renewed "Made in Germany" identity. According to the draft, the government plans to build at least three semiconductor plants in Germany, aiming to eventually establish the country as Europe's leading chip production hub. In addition, it targets having AI contribute 10 percent of Germany's GDP by 2030. At Monday's summit, Merz also said the initiative aligns with broader goals of digital transformation and technological innovation. Siemens CEO Roland Busch called it "a new form of cooperation between business and politics." Julia Braune, head of Germany's trade and investment agency GTAI, added that the plan sends a strong message that public and private sectors are working together to reignite economic growth. Still, critics argue that without concrete reforms, the initiative risks being little more than a publicity campaign. Some politicians and economists have questioned the feasibility of fulfilling the investment ambition. As Germany looks to reclaim its role as an industrial and innovation powerhouse, the success of "Made for Germany" may depend less on the billions pledged than on Berlin's willingness to deliver long-promised reforms. Clemens Fuest, president of the ifo Institute, said that publicity alone is not enough. "We need fundamental reforms," he warned, urging the government to reduce bureaucracy and lower taxes. Currently, Germany's investment levels remain 5 percent below their 2019 benchmark. (1 euro = 1.17 U.S. dollar)
The Star
6 hours ago
- The Star
Ukraine conducts widespread searches, arrests of anti-corruption officials
KYIV (Reuters) -Ukrainian security services arrested officials from the country's main anti-corruption agency on Monday and conducted dozens of searches, in a crackdown that the agency said went too far and had effectively shut down its entire mission. The SBU security body said it had arrested one official at the National Anti-corruption Bureau of Ukraine as a suspected Russian spy and another over suspected business ties to Russia. Other NABU officials had ties to a fugitive Ukrainian politician's banned party, the SBU said. But NABU, which has embarrassed senior government officials with corruption allegations, said the crackdown went beyond state security issues to cover unrelated allegations such as years-old traffic accidents. Anti-corruption watchdog Transparency International said the searches showed that the authorities were exerting "massive pressure" on Ukraine's corruption fighters. NABU said at least 70 searches had been conducted by various Ukrainian law enforcement and security agencies in connection with 15 of its employees, and that these had taken place without the approval of a court. "In the vast majority of cases, the grounds for these actions are the involvement of individuals in road traffic accidents," the statement said, although it also added that some of the cases were about links to Russia. Although the risk of Russian infiltration "remained relevant," this could not be a justification to "halt the work of the entire institution", NABU said in a statement. 'PRESSURE' Anti-corruption campaigners have been alarmed since Vitaliy Shabunin, a top anti-corruption activist, was charged earlier this month with fraud and evading military service. Shabunin and his allies have cast those charges as politically motivated retribution from President Volodymyr Zelenskiy's office for exposing corrupt officials. On Monday, Shabunin condemned the searches of NABU personnel. Zelenskiy's office denies that prosecutions in Ukraine are politically motivated. The SBU said it had arrested a mole working for Russian intelligence inside NABU, who had passed information to his handler on at least 60 occasions. Separately, it had detained a senior NABU detective on suspicion of acting as an intermediary in his father's sales of industrial hemp to Russia. A third SBU statement said some senior NABU officials had ties to lawmaker Fedir Khrystenko, believed to have fled Ukraine after the Russian invasion in 2022. A separate law enforcement body, the State Bureau of Investigations, said it had served suspicion notices to three NABU employees for road accidents that had resulted in injuries. NABU said the road traffic accident cases were between two and four years old. Transparency International said conducting the searches without court orders "demonstrates the massive nature of the pressure by the SBU and (Prosecutor General's Office) on anti-corruption law enforcement agencies". It called on Zelenskiy to guarantee the independence of Ukraine's anti-corruption bodies. (Reporting by Max HunderEditing by Peter Graff)
