IRAN: Little Hope For Nuclear Diplomacy As Tehran Deepens Ties At SCO Summit

Sep-03 15:16

IAEA Director General Rafael Grossi told Reuters that another meeting with Iran to discuss its nuclear programme and pending UN sanctions could happen in Vienna “within a few days”.

  • Grossi said that “current talks with Iran on modalities of resuming inspections cannot go on for months on end,” adding that he expects the process can be "concluded soon."
  • Grossi warned that the last information on Iran’s highly enriched uranium stockpile was in June,  before US-Israeli attacks. He “believes there is a general understanding that, by and large, highly enriched uranium is still there”. Grossi adds that “everybody agrees Iran's capacity to produce more uranium-enriching centrifuges is largely there”.
  • Germany, France, and the United Kingdom (E3) triggered the JCPOA snapback mechanism on August 28 to reimpose UN Security Council (UNSC) sanctions on Iran. Without an agreement with Tehran to re-admit IAEA inspectors, the sanctions will take effect at the end of September.   
  • Such a deal appears unlikely, Iran this week continued efforts to deepen its strategic partnerships with China and Russia to counter efforts to isolate its regime. The Institute for the Study of War notes that Iranian President Masoud Pezeshkian held separate meetings with Shanghai Cooperation Organization (SCO) members, including Russian President Vladimir Putin and Chinese President Xi Jinping, on September 2, on the sidelines of the SCO summit in China.
  • The ISW notes that Xi, “reaffirmed China’s support for Iran’s nuclear rights and emphasized China’s commitment to expanding bilateral economic and energy cooperation.”

Historical bullets

FED: US TSY 26W AUCTION: NON-COMP BIDS $1.923 BLN FROM $73.000 BLN TOTAL

Aug-04 15:15
  • US TSY 26W AUCTION: NON-COMP BIDS $1.923 BLN FROM $73.000 BLN TOTAL

FED: US TSY 13W AUCTION: NON-COMP BIDS $2.209 BLN FROM $82.000 BLN TOTAL

Aug-04 15:15
  • US TSY 13W AUCTION: NON-COMP BIDS $2.209 BLN FROM $82.000 BLN TOTAL

TARIFFS: Trump To "Substantially" Raise Tariffs On India For Buying Russian Oil

Aug-04 15:11

US President Donald Trump posts on Truth Social: "India is not only buying massive amounts of Russian Oil, they are then... selling it on the Open Market for big profits... Because of this, I will be substantially raising the Tariff paid by India to the USA."

  • The post is the latest in a series from Trump hinting that India may bear the initial brunt of the Trump administration's measures against the Russian oil and gas sector. Trump's Middle East envoy, Steve Witkoff, is expected to arrive in Moscow on Tuesday or Wednesday to discuss Trump’s accelerated (Friday) deadline for reaching a ceasefire deal.
  • On Saturday, Indian PM Narendra Modi urged Indians to buy local products to offset US tariffs: “Now, whatever we buy, there should be only one scale: we will buy those things which have been made by the sweat of an Indian.”
  • Modi’s government hasn’t given India’s oil refiners instructions to stop buying Russian oil, and no decision has been taken on whether to halt the purchases, according to Bloomberg sources. NYT reports that India will continue buying Russian oil.
  • In an interview with Fox News yesterday, Trump’s influential policy advisor, Stephen Miller, accused India of financing Russia's war against Ukraine: "What [Trump] said very clearly is that it is not acceptable for India to continue financing this war by purchasing the oil from Russia... People will be shocked to learn that India is basically tied with China in purchasing Russian oil."