IAS Daily Dose: Current Affairs 2013 for UPSC IAS Exam - Iran nuclear talks with world powers suspended

Last Updated: May 16, 2013 at 12:29:12

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Current Affairs Notes for PT 2013

The world powers have put three specific demands: stop the enrichment of uranium to 20%; close a heavily-fortified enrichment facility near the city of Qom; and export its stockpile of 20% enriched uranium. Whereas Iran has demanded relief from economic sanctions and an acknowledgement that it has the right to enrich uranium.

A series of United Nations Security Council resolutions since 2006 have demanded Iran suspend all its enrichment-related activities. Tehran denies planning to build nuclear weapons and says its program is purely for civilian purposes. Rather than halt enrichment - a process which refines uranium for use as fuel or, if done to a much higher level, nuclear bomb material - Iran has increased its activities.

On this issue US, EU etc had levied sanctions on Iran.

Sanctions levied by the U.S. have already cut exports of Iranian crude from about 2.5 million barrels a day last year to between 1.2 million and 1.8 million barrels now, according to estimates by U.S. officials. An EU embargo on Iranian crude that starts July 1 will tighten the squeeze.

International sanctions against Iran

• Longstanding ban on all trade with Iran except for activities "intended to benefit the Iranian people".

• New sanctions against foreign firms dealing with Iran's oil sector and central bank.

• Restrictions on trade in equipment which could be used for uranium enrichment.

• Asset freeze on individuals and organizations linked with nuclear programme.

• Export ban on natural gas technology.

• Ban on sales of heavy weaponry and nuclear technology to Iran.

• Iranian arms exports blocked, and asset freeze for key individuals and firms.

• Cargo inspections to detect and stop Iran's acquisition of illicit materials.

• The Iranian state gets more than half of its revenue through the export of crude oil, says the BBC's James Reynolds.

If talks collapse permanently, anxiety could grow on financial markets over the danger of higher oil prices and conflict in the Middle East because Israel has threatened to attack Iranian nuclear sites if diplomacy fails to stop Tehran getting the bomb.