Iran warns of retaliation if European powers exploit UN nuclear report
TEHRAN, June 1 — Iran today warned it would retaliate if European powers exploit a UN report showing it has stepped up production of highly enriched uranium.
In a phone call, Iranian Foreign Minister Abbas Araghchi urged UN nuclear watchdog chief Rafael Grossi to stop 'parties from exploiting' the agency for political ends, according to a statement, referring to the United Kingdom, France and Germany, who have warned they could reimpose sanctions if Iran's nuclear programme threatens the continent's security. — AFP
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
China chamber decries EU discriminatory curbs on Chinese medical device firms
BRUSSELS, June 2 (Xinhua) -- The China Chamber of Commerce to the EU (CCCEU) on Monday decried a decision by EU member states to block Chinese companies from participating in public procurement tenders in the medical device sector for contracts valued over 5 million euros (5.72 million U.S. dollars) under the bloc's International Procurement Instrument (IPI). The measures, reportedly approved on Monday, would prohibit Chinese firms from bidding on such contracts for a five-year period. In a statement, the CCCEU expressed profound disappointment and serious concern over the decision, warning that the targeted use of the IPI against Chinese enterprises sends a troubling signal. The chamber stressed that the measures not only "add new complexity to China-EU economic and trade relations," but also contradict the EU's proclaimed principles of openness, fairness, and non-discrimination in market access. The IPI, a unilateral tool adopted by the EU in 2022, aims to ensure the so-called "market reciprocity" in public procurement. The CCCEU argued that any push for reciprocity must be based on "an accurate understanding of historical and practical realities," noting European medical device companies have enjoyed significant access to China's market for years. "The EU's current decision fails to acknowledge this context and undermines the spirit of balanced engagement and mutual benefit," it said. The chamber also voiced broader concerns over rising protectionism, pointing to recent unilateral tariff measures by certain countries that have disrupted global trade. "China and the EU, as two major global economies, should jointly uphold free trade and multilateral cooperation, instead of introducing unilateral restrictions that escalate tensions," the statement added. Chinese firms have "consistently operated in compliance with laws and regulations," the chamber added, stressing their contributions to the EU through investment, technological advancement and job creation. The CCCEU has urged EU policymakers to reconsider the "necessity and long-term implications" of the IPI measures, warning that using policy tools as de facto trade barriers could harm bilateral interests and undermine global economic recovery efforts. (1 euro = 1.14 U.S. dollar)
The Star
9 hours ago
- The Star
Analysis-Polish nationalist's election victory deepens fiscal uncertainty
WARSAW/LONDON (Reuters) -Poland's path to narrowing its fiscal deficit, maintaining its credit ratings and keeping investors on board looks more difficult following conservative nationalist Karol Nawrocki's presidential election triumph. Nawrocki's victory in Sunday's election could deal a blow to the centrist government's efforts to cement the European Union and NATO member state's pro-European orientation. Poland faces big spending demands, including a rise in defence outlays after Russia's invasion of Ukraine, and is grappling with the EU's second-highest fiscal deficit, driven in part by what are widely seen as generous social policies. Prime Minister Donald Tusk, who returned to power in 2023, has struggled to fulfil electoral promises that could strain public finances and the outgoing president, Andrzej Duda, has used his presidential veto powers to block some of Tusk's political agenda. Nawrocki, who like Duda is aligned with the opposition, could employ similar tactics, possibly delaying reforms and increasing the government's reliance on fiscal measures in the run-up to a 2027 national election. "The Nawrocki presidency will fuel domestic political instability. Tusk's reform agenda will be paralysed," Eurasia group analyst Orsolya Raczova said in a note, adding that Nawrocki could "actively stoke tension among coalition partners." S&P Global said that, at a minimum, Tusk could during Nawrocki's presidency expect similarly "uneasy relations" between the president and the government, and that Poland's economic strength and medium-term fiscal policies would remain the most important factors for Poland's credit rating. Poland has pledged to bring its budget deficit below 3% of gross domestic product by 2028, but, given the high-stakes election calendar, Tusk's government has ramped up borrowing to record levels ahead of the presidential ballot. UNDER PRESSURE Polish stocks fell on Monday from near 14-year-highs, underperforming central European peers, and Poland's international bonds also came under pressure, with longer-dated maturities down between 0.5-0.7 cents on the euro, Tradeweb data showed. Hasnain Malik, managing director with Tellimer, said the result was a "jolt" to investors. Before Monday, the zloty had been up 11% versus the dollar this year and the local equity index had been up 40% in total U.S. dollar return terms. The International Monetary Fund projected in April that Poland's economy would grow 3.2% this year and 3.1% in 2026, and slow to 2.7% by 2030. But last month the European Commission forecast that the deficit would be more than 6% of GDP this year and next, nearly double the average for the 27-member EU and the bloc's second-highest behind Romania. The yield on Poland's 10-year domestic government bond - a key benchmark for borrowing costs - is currently at around 5.5% - below the 6% mark it hovered around for much of the first three months of the year. "Poland is likely to face continued political polarisation in the coming years, with the next general elections scheduled for 2027, potentially increasing reliance on expansionary fiscal policies and delaying fiscal consolidation," Scope Ratings said. S&P warned last week that while it was "not in a rush" to adjust Poland's 'A-' credit rating, the deep polarisation in Polish politics made lowering deficits potentially risky. Poland has a narrow window before the next election to craft a medium-term fiscal adjustment. Some economic analysts say its ability to do so now looks more uncertain. "It is likely to be increasingly more challenging to implement fiscal tightening measures after the loss by the ruling coalition in the presidential election," Ercan Erguzel, an economist at Barclays, wrote in a note. One of Tusk's main unfulfilled electoral promises is a doubling of the income tax free threshold, with an estimated price tag of some 55 billion zloty ($14.76 billion), coming on top of social benefits already widely viewed as generous. Aleks Szczerbiak, politics professor at the University of Sussex, said Tusk's government was hostage to its income tax pledge, with cost-of-living issues still weighing on Poles despite inflation retreating. "If they get to the next election, and there's no road map and they haven't started implementing it, that tax free allowance thing is very, very difficult," he said, adding that the political demand was directly at odds with the economic imperative. "And I'm not quite sure how they're going to square that circle." ($1 = 3.7264 zlotys) (Additional reporting by Paweł Florkiewicz, Editing by Libby George and Timothy Heritage)
The Sun
9 hours ago
- The Sun
Iran says no nuclear deal if deprived of ‘peaceful activities'
CAIRO: Iran said Monday it will not accept a nuclear agreement that deprives it of what it calls 'peaceful activities', a reference to uranium enrichment, as it pressed the United States for guarantees it will drop sanctions. Uranium enrichment has remained a key point of contention between the foes, in talks to seal a nuclear deal since April, with Iran defending what it says is its pursuit of a civil nuclear programme but with the US side calling it a 'red line'. Speaking in Cairo, where he met the UN nuclear watchdog's chief Rafael Grossi, Foreign Minister Abbas Araghchi said: 'If the goal is to deprive Iran of its peaceful activities, then certainly no agreement will be reached.' Araghchi insisted that Iran has 'nothing to hide' on its nuclear programme. 'Iran has a peaceful nuclear programme... we are prepared to provide this assurance to any party or entity,' he said. The remarks came after Grossi of the International Atomic Energy Agency (IAEA) on Monday called for more transparency from Iran following a leaked report that showed Tehran had stepped up uranium enrichment. The IAEA report showed that Iran has stepped up production of uranium enriched up to 60 percent -- close to the roughly 90 percent level needed for atomic weapons. 'There is a need for more transparency -- this is very, very clear -- in Iran, and nothing will bring us to this confidence (besides) full explanations of a number of activities,' Grossi said ahead of meeting Araghchi. Grossi added that some of the report's findings 'may be uncomfortable for some, and we are... used to being criticised'. Iran has rejected the report, warning it would retaliate if European powers that have threatened to reimpose nuclear sanctions 'exploit' it. 'Some countries are trying to abuse this agency to pave the way for escalation with Iran. I hope that this agency does not fall into this trap,' Araghchi said of the IAEA. Iran meanwhile pushed for the United States to drop sanctions that have crippled its economy as a condition for a nuclear agreement with President Donald Trump's administration. Araghchi said on Saturday that he had received 'elements' of a US proposal for a nuclear deal following five rounds of talks mediated by Oman. 'With or without a deal' On Monday, Iranian foreign ministry spokesman Esmaeil Baqaei told a news conference: 'We want to guarantee that the sanctions are effectively lifted.' 'So far, the American side has not wanted to clarify this issue,' he said. The US envoy in the nuclear talks said last month that Trump's administration would oppose any Iranian enrichment. 'An enrichment programme can never exist in the state of Iran ever again. That's our red line. No enrichment,' Steve Witkoff told Breitbart News. Iran has vowed to keep enriching uranium 'with or without a deal' on its nuclear programme. The United States has sent Iran a proposal for a nuclear deal that the White House called 'acceptable' and in Tehran's 'best interest' to accept, US media reported on Saturday. The New York Times, citing officials familiar with the diplomatic exchanges, said the proposal calls on Iran to stop all enrichment and suggests creating a regional grouping to produce nuclear power. Iran has held five rounds of talks with the United States in search of a new agreement to replace the deal with major powers that Trump abandoned during his first term in 2018.
