Iran gives 60 days time to world powers to implement commitments of nuclear deal

Iran will no longer respect limits it agreed on its enriched uranium and heavy water stocks under a 2015 nuclear deal with major powers, officials said on Wednesday. Iran's Supreme National Security Council said the measure was necessary to "secure its rights and bring back balance" after Washington's abandonment of the agreement exactly one year ago on May 8, 2018.

"The Islamic Republic of Iran does not at the current stage consider itself committed to observing restrictions regarding storing enriched uranium stocks and heavy water stocks," the council said. "The remaining parties to the (deal) are given 60 days to implement their commitments, in particular in the fields of banking and oil," it added.

It was referring to the commitment made by Britain, China, France, Germany and Russia to lift sanctions on Iran in return for it curbing its nuclear activities. The five countries have largely failed to deliver on their side of the bargain as their banks and oil firms have moved to abide by the sweeping sanctions reimposed by Washington over the past year on Iran's banking and oil sectors.