BICOM

Iran will present a new advancement in its atomic programme today by loading domestically made nuclear fuel into a research reactor in Tehran, a senior Iranian official told a Russia’s RIA news agency yesterday. Iranian President Mahmoud Ahmadinejad hinted at a new development in Iran’s nuclear programme in a rally on Saturday.

The move appears to be designed to show that increased sanctions are failing to halt Iran’s technical progress and to strengthen its hand in any renewed negotiations with the P5 +1, the forum of five permanent members of the UN Security Council plus Germany, who lead on diplomatic engagement with Iran on its nuclear programme.

Nevertheless, according to an interview yesterday in Haaretz with Dennis Ross, the former senior Middle East adviser to President Obama, international sanctions against Iran are working. Ross noted two factors that showed Iran was under sufficient pressure: the rapid devaluation of Iran’s currency and that China and India, who are not cooperating with International sanctions, are forcing Tehran to substantially reduce the cost of crude oil. Ross added it was “not an accident that suddenly they [Tehran] want to meet with the P5 +1,” as international sanctions start to take affect.