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Comment and Opinion

The Atlantic: There’s a deal to be had between the US and Iran, by Dennis Ross

Iran is now incrementally walking away from the limits imposed on it in the nuclear deal—the Joint Comprehensive Plan of Action, or JCPOA—exceeding the 300 kilograms of low enriched uranium it can have on hand and now enriching above the 3.67 percent allowed under the terms of the understanding. Don’t be surprised if it either starts to install its advanced centrifuges or begins to operate more than the 5,061 older centrifuges it is permitted for enrichment. Iran is not racing to produce weapons-grade material, but make no mistake, it is shrinking the time it will need to have a breakout capability.

The Trump administration’s decision to end the waivers it had given eight countries to continue to buy Iranian oil, in late April, put the Iranians in a real bind. The country’s oil exports plummeted from roughly a million barrels a day to roughly 300,000. The resulting loss of revenue added dramatically to the already significant economic pressures caused by the American reimposition of sanctions—and the reality that multinational corporations felt the need to respect the sanctions lest they lose the ability to do business in the United States or get financing from American banks.

Read the full article at The Atlantic.