Skip to content
Tuesday 8 September 2026London --:--Frankfurt --:--Zurich --:--
NewslettersSearchEN · DE · FR
MorningWire

European business, markets and politics

FTSE 100
10,814.96
-0.07%
DAX
25,925.02
-0.31%
CAC 40
8,291.69
-0.17%
STOXX 50
6,392.03
-0.19%
  • Europe
  • Markets
  • Business
  • Economy
  • Regulation
  • Politics
  • Opinion
More
GermanyFranceEU InstitutionsCompetitionPublic AffairsBankingTechnologyEnergy
  • Germany
  • France
  • Europe
  • Markets
  • Business
  • Economy
  • Regulation
  • Politics
  • Opinion
  • DE
Tuesday 25 November 2014 4:08 pm  |  Updated:  Friday 07 June 2019 5:55 pm

Iran nuclear crisis: The sharks are circling and war is not impossible

By: John Hulsman

Add as a preferred source on Google

IF THE conventional wisdom of the mainstream press could sum up the current state of the Iranian nuclear talks in one headline, it would absurdly read “Optimism as talks fail to end”. Even by their standards, this fails to pass the laugh test analytically. Instead, an alarmed pessimism must be the correct response. For after 12 years, including the last nine months of increasingly intense discussions, the Iranian nuclear crisis has hit a brick wall.

With a deal out of reach this week, both the Iranians and the P5+1 (the US, China, Russia, the UK, France, and Germany) have agreed to continue disagreeing about two major stumbling blocks: the number of centrifuges allowed in the future Iranian nuclear programme and the speed with which, after an accord, sanctions on the Islamic Republic would be lifted.

These substantive problems standing in the way of a deal are far from trivial. First, Iran (as was clearly stated by Grand Ayatollah Khamenei in July) wants the ability to develop a large, civilian nuclear capacity. Khamenei reckons this will require more than 200,000 of the current IR-1 centrifuges; the West’s counter-offer is that Iran will be allowed to possess a mere 2,000. So the negotiators, over this absolutely central point, are off by a factor of 100. This is a canyon-sized difference.

Second, the West wants any final agreement to stretch on for up to 20 years, with sanctions being repealed in bite-sized, incremental stages. Contrarily, Tehran expects the majority of sanctions to be suspended – by executive order, in the case of the US, as the new Republican-controlled Congress is highly unlikely to go along – almost at once, and for the whole process to be wound up in just five years. The two negotiating positions remain far apart.

Cheering on this failure, both Iran and the US have very strong vested interests – centred respectively around conservative religious clerics and the Iranian Revolutionary Guards (IRG) and irreconcilable hawks in the US Congress – who will not favour a deal under any circumstances that might be palatable to the other. For example, senator Bob Corker, the incoming Republican chairman of the Foreign Relations Committee, stated in June that he would personally back new economic sanctions on Iran should a deal not be reached. Failure to solve the Iranian nuclear issue would immediately lead to a full-blown geopolitical crisis, with war a quite possible outcome. The stakes could not be higher.

And after a forest of false deadlines, the real sort is at last in view. This week, both sides agreed to keep the talks going until 1 March 2015, when a political framework deal ought to be in place. This is the real end game. For following the past few days’ failure to nail down an accord, the sharks are circling, particularly in America. The new Congress (which convenes in January 2015) probably has a veto-proof majority inclined to impose new sanctions on Iran should a deal not be imminent. Tehran has made it clear that any new US sanctions would end the talks. As such, the White House probably has one more chance to make a deal work, ahead of a hawkish Congress wresting the diplomatic initiative away from a weakened President Obama.

In other words, theoretically a deal can be done by March, but only just. But this much is for certain: the odds of such an accord are long. Failure, with all its ghastly consequences, must now be contemplated.

Share this article

  • Facebook
  • X
  • LinkedIn
  • WhatsApp
  • Email

Similarly tagged content:

Sections

  • Opinion

Categories

  • Opinion

Trending Articles

  • Hedge fund billionaire Chris Rokos joins UK wealth exodus 

  • Iceland boss Richard Walker vows to set up shop on Falkland Islands

  • Britain ‘taxing itself to death,’ Burnham warned

  • £74m for branded condoms? UK must stop spaffing cash on foreign aid

  • Tesco and Boots lead 100,000 jobs pledge to tackle Neets crisis

More from Morning Wire

  • Trump suspends strikes amid new peace hopes

    Politics
    Donald Trump speaking at press conference podium, addressing media with serious expression, American flags in background
  • Iranian hackers behind UK energy plant attack

    Energy
    UK industrial electricity prices are the highest in the G7 and 46 per cent above the average of the International Energy Agency.
  • As it happened: Intel, Arm shares slide; Oil climbs higher

    FTSE 100 Live
    Donald Trump smiling and holding a small golden ball, wearing a blue suit and red tie.
  • Westinghouse and Amentum Partner to Expand Delivery Capacity for APX Fleet Deployment

    Business Wire
  • Amentum to Support Critical Infrastructure and Platforms Under New Engineering Services Framework

    Business Wire
  • Oil price falls but Trump and Iran clash on negotiations claim

    Markets
    Donald Trump smiling in a blue suit and tie with an American flag pin, US flag in background
  • Amentum Selected for Projects to Upgrade and Protect the UK Energy Grid

    Business Wire
  • As it happened: FTSE 100 slides as bound rout deepens; Oil jumps as Trump vows more strikes on Iran

    FTSE 100 Live
    Large oil tanker navigating a strait under a cloudy sky, impacting oil prices and global trade.
MorningWire

Independent European business, markets and political news for decision-makers.

Morning Briefing

Europe

  • Germany
  • France
  • EU Institutions
  • Europe

Business

  • Markets
  • Business
  • Economy
  • Regulation
  • Competition
  • Public Affairs

Editorial

  • Opinion
  • Editorial Policy
  • Corrections
  • Contact

Company

  • About Morning Wire
  • Privacy Policy
  • Terms of Use
  • Cookie Policy
© 2026 Morning Wire Ltd · Published by Morning Wire Media, Bahnhofstrasse 65, 8001 Zürich, Switzerland
Privacy · Terms · Cookies · Facebook