The Jerusalem Declaration
Context:
- The U.S. and Israel signed a new security pact on Thursday reinforcing their common front against Iran, as President Joe Biden pledged to use “all” American power to stop the Islamic republic from acquiring nuclear weapons.
Background:
- In 2018, Donald Trump, then-president of the United States, scuttled a historic agreement that placed restrictions on Iran’s shady nuclear programme in exchange for the lifting of sanctions.
- The agreement has not moved forward since March.
What is the Iran Nuclear Deal?
- The Joint Comprehensive Plan of Action is another name for it (JCPOA).
- Iran and P5+1+EU engaged in extensive negotiations between 2013 and 2015 that led to the JCPOA (China, France, Germany, Russia, the United Kingdom, the United States, and the European Union, or the EU).
- As part of the agreement, Tehran consented to drastically reduce its stockpiles of heavy water, enriched uranium, and centrifuges—all essential components for nuclear bombs.
About:
- When the IAEA announced that Iran had fulfilled its initial commitments in early 2016, the Iran Nuclear Deal got off to a strong start. In response, the United States, the EU, and the UN lifted their sanctions.
- Iran is able to increase its oil exports because to the US lifting secondary sanctions on oil under President Obama.
- The European Union and the United States also unfroze Iranian assets totalling $100 billion.
- But when President Trump withdrew from the JCPOA and reinstituted severe banking and oil sanctions, the agreement almost fell apart.
Way Forward:
- Iran warned the United States and its allies against undermining regional security.
- This might escalate the conflict in the region and pose a threat to regional security India which has historical ties with Iran will find it difficult to balance with the political equations in the region owing to its growing ties with Israel.
Source: The Hindu
