Iran Says It Will Hit the Limit on Nuclear Stockpile in Weeks

(Bloomberg) -- Iran could surpass enriched-uranium limits set under its landmark nuclear deal with world powers within weeks, a development expected to exacerbate tensions with the U.S.

“If we were proceeding at the previous speed, it would have taken several months,” said Behrouz Kamalvandi, the spokesman for the Atomic Energy Organization of Iran, in an interview with Tehran’s Vatan Emrooz newspaper. “With the changes introduced, we will reach that ceiling in coming weeks.”

The 2015 deal cut Iran’s low-enriched uranium by some 97% and capped its stockpile at 300 kilograms (661 pounds). Iran has remained well below that inventory limit for more than a year and had just 203 kilograms on hand during the first quarter, according to monitoring data.

Iran announced this month it would scale back some of its commitments under the agreement after the U.S. -- which ditched the accord last year and reimposed sanctions -- revoked waivers that allowed the Persian Gulf country to remain within limits by shipping material overseas.

Iran’s decision came in the midst of heightened tensions with the U.S., which hastened the deployment of an aircraft carrier strike group to the Gulf, dispatched bomber jets and withdrew some diplomatic personnel from Iraq. Officials said unspecified Iranian threats prompted those actions.

Iran Sets 60-Day Nuclear Countdown Unless Europe Delivers Trade

China, Europe and Russia continue to back the accord, called the Joint Comprehensive Plan of Action, and are collaborating with Iran to work around U.S. sanctions and facilitate trade. If Iran were to breach aspects of the deal, it could make it harder for those governments to stand up to American efforts to isolate the nation with the world’s second-biggest natural gas reserves.

Iran warned May 8 the nuclear showdown could escalate even further. It threatened to abandon limits on the purity of enriched uranium unless Europe throws it an economic lifeline within 60 days, setting an ultimatum for the survival of the landmark agreement.

©2019 Bloomberg L.P.