Iran began its defiant journey against the roving world at last by showcasing its production of the nuclear fuel that seemingly had many controversies around it. Western sanctions were rebelliously increasing towards their Nuclear Program. This was not all. Along with this, the country also declared the imposition of its oil trade ban with six major European Union (EU) countries. An agency called Mehr quoted that the countries facing the ban include France, Netherlands, Portugal, Italy, Spain and Greece, which already is in an economic soup at the moment. This oil ban is going to come into effect from the early week of July.
The Iranian officials were quoted saying that the supply shall be thwarted even before the countries can arrange for any other supplier to commence supporting them will oil output. They fight back saying that as far as Tehran goes they already have found new buyers for the 18% share of oil exports that were sent to these EU countries. This is all a result of the increasing pressure from the United States of America (USA) and the Israeli Tension that has been brewing for a long time now. The USA has been claiming that Iran is in the process of making nuclear weapons, which Iran has been vehemently denying, and they claim that this nuclear energy is produced to be used for peaceful and constructive purposes like the electricity generation, research facilities and with the larger goal of achieving self-sufficiency in the world nuclear energy.
This incident has happened in light of the Israeli diplomat who was targeted in Delhi in India. However, Iran denies any role in the same. Iran has declared that it will talk to the world powers on its pet nuclear program, but the world majors feel it’s a game to just buy time. President Mahmoud Ahmadinejad inspected and inserted the first nuclear rod domestically made by Iran in their research reactor in the northern region of Tehran. Claimed to be the “new generation of Iranian centrifuges”, the centrifuges at Natanz would produce three times more enriched uranium than previous reactors. Apparently, this was all done to reflect on Iran’s might to achieve proficiency and mastery over the production of the fuel cycle.
The factors for the venting of Iran’s frustrations are many. Washington had also imposed penalties that would reduce Iran’s ability to sell their oil, which accounts for nearly 80% of Iran’s Revenue.