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“Last chance” For Iran To Resolve Nuclear Conflict | The Money Times

Money Matters - Simplified

“Last chance” For Iran To Resolve Nuclear Conflict

United States and its allies are willing to open talks with Iran for halting its nuclear enrichment programme, which the president Barak Obama called “last chance” for Iran.

To save its nuclear facilities in case of attacks from US and Israel Iran has develop underground nuclear facility deep inside a mountain near the Shi'ite Muslim holy city of Qom. United States and its western allies are planning to demand Iran to close and dismantle the facility.

Iran is facing sanctions from US and allies for its nuclear progamme which are considered to develop nuclear armaments. According to US diplomats, the nuclear facility enriches Uranium which is 20 per cent pure and it can easily be converted into a grade required to develop nuclear bomb.

The talk

The talks are set to take place among United States and its close allies Britain, France, Germany, China and Russia. Among these China and Russia are the recent joiners to the talk which condemn expansion of Iran’s nuclear project.

It will not be easy for Iran to face the counties in the meeting and it would be equally difficult to close its nuclear facility as Iran has invested huge amount of money to shift its nuclear facility to the Qom, which is the safest place against airstrikes.

A senior Obama administration official said, “We have no idea how the Iranians will react. We probably won't know after the first meeting.”

Sanctions against Iran

Iran because of its nuclear programme and high level enrichment of Uranium is facing tough sanctions from west and United Nations. Because of its suspicious nuclear programme, UN Security Council has imposed four set of sanctions on Iran.

The focus of the meeting will also be to limit the demand of Iran's crude oil. On the other hand, Iran has threatened to close Strait of Hormuz, through which 1/5 of oil trading of the world is done.

However, Iran has repeatedly mentioned that its nuclear programme is meant for electricity generation not for developing nuclear armaments.


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