Iran drops key commitments under 2015 nuclear deal

Iran announced on Wednesday that it would drop two of the key commitments that it entered into as part of the 2015 nuclear deal in response to America's withdrawal and its decision to reinstate sanctions on the Islamic Republic.

Some observers interpreted Tehran's move as a gambit to pressure the remaining signatories to the treaty into helping it find relief from US sanctions.

Tehran also alleged that China, the UK, France, Germany and Russia had failed to deliver on the economic incentives promised to it.

In a televised address, Iranian president Hassan Rouhani said his government would adopt some of the measures set out in the dispute resolution mechanism included in the nuclear deal itself.

But Rouhani was also at pains to stress that Tehran was not extricating itself from the deal, which was also known as the Joint Comprehensive Plan of Action, saying: "We do not want to leave the agreement. All the people of the world should know that today is not the end of the JCPOA; it is a new step within the framework of the JCPOA."

Over the next two months, Iran would stop sales of the excess heavy water produced as part of the uranium enrichment process and swapping enriched uranium for mined uranium yellow cake.

The statement ratcheted up the pressure on the European signatories to the deal, who had been trying desperately to keep it alive after Washington's decision to pull out one year ago. Rouhani added that Iran would be willing to resume the commitments if the UK, France, Germany, Russia and China found a way for Iran to continue selling oil.

The nuclear accord was “either a win-win agreement for all or a lose-lose agreement for all,”Rouhani said.

Iranians remained committed to diplomacy but “with a new language and logic. We will not bow to bullying [of the US]," the Iranian leader added.

"Our strategy is commitment in response to commitment; breach against breach; threat against threat and action against action.”

The US had sparked outrage in the Islamic Republic when it dropped out of the deal but especially after it decided to reinstate sanctions on Iranian oil exports, hurting its economy and driving it into a deep recession.

On Sunday, the Trump administration responded to Iranian threats to close off the Strait of Hormuz, announcing its decision to deploy an aircraft carrier strike group to the region, even as US Secretary of State, Mike Pompeo, cancelled a visit to Germany and flew to Iranian neighbour Iraq instead on the back of reports that Tehran was “escalating their activity”.