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Iran can make huge profits by developing nuclear industry - analyst (Exclusive)

Nuclear Program Materials 29 November 2023 17:50 (UTC +04:00)
Elnur Baghishov
Elnur Baghishov
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BAKU, Azerbaijan, November 29. There are many industries that depend on nuclear technology and field, Iranian analyst Farshid Bagherian told Trend.

For example, it can be used in the field of medicine, nano, agriculture, and even some physics, Bagherian said.

"Iran does not have any restrictions in this direction. Because according to the NPT convention, there is no restriction other than enriching uranium within the percentage and size determined until its possible to obtain nuclear weapons. Thus, Iran insists on using nuclear energy," he said. "Because if this industry is used to the maximum, the costs in other industries will decrease. Thus, Iran can make huge profits with high technology using nuclear energy," he said.

He went on to explain it as 'if various types of products produced as a result of the use of nuclear industry are exported, Iran's income will increase incredibly. For example, instead of exporting 2,300 containers of tomatoes, it is more profitable to export 1 container of electronics.'

Currently, Iran is spending funds in the nuclear industry. In some cases, it spent excessive amounts of money. For example, the activity of centrifuges and reactors were stopped in the past. Significant funds have been spent on their restoration of them. Currently, a large amount of funds are being spent in the country.

Based on data of the Institute for Science and International Security, overall, as of March 2023, Iran had 12,994 centrifuges installed at all three of its enrichment plants. Of them - 5763 were advanced centrifuges of various types and 7231 IR-1 centrifuges. The data shows that Iran nearly tripled its annual deployment of advanced centrifuges to over 3500 advanced centrifuges deployed during that time span, compared to the deployment of about 1,200 advanced centrifuges observed between February 2022 and February 2021, which itself was double that from the year prior, February 2020 to February 2021, during which roughly 500 advanced centrifuges were deployed.

In 2015, the Joint Comprehensive Plan of Action (JCPOA) on Iran's nuclear program was signed between Iran and the 5+1 group (the US, the UK, France, Russia, China and Germany). As part of the JCPOA, Iran put a number of restrictions on its nuclear program, and the sanctions against Iran were lifted. Restrictions on Iran's nuclear program included decommissioning of more than 20,000 centrifuges, concreting and reconstruction of the pipes of the Arak Heavy Water reactor, 3.67 percent enrichment of uranium, and others.

With the US withdrawal from the JCPOA and the re-imposition of sanctions against Iran in 2018, Iran has gradually lifted restrictions on its nuclear program and rapidly expanded uranium enrichment.

Iran claims that its nuclear program is for peaceful purposes only, but according to the International Atomic Energy Agency (IAEA), Iran has increased its highly enriched uranium by 27 percent in the last three months and currently has 4,745 kilograms of enriched uranium. This is 15 times more than the amount allowed for Iran in the JCPOA.

Recently, some world media reports cited the IAEA as saying that Iran’s 60 percent enriched uranium reserves had increased from 6.7 kg to 128 kg.

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