Iran Considers Bill To Exit Nuclear Treaty That Prevents Spread Of Atomic Weapons: Israel's Actions Affect 'Strategic Decisions'

Amid escalating tensions in the Middle East, Iranian lawmakers are contemplating a significant legislative move that could see the nation withdraw from the nuclear Non-Proliferation Treaty. This development, confirmed by the foreign ministry on Monday, comes as geopolitical strains with Israel intensify.

What Happened: Iranian lawmakers are drafting a bill that could lead Tehran to withdraw from the NPT, as stated by the foreign ministry on Monday. According to Reuters, this move comes amid heightened geopolitical tensions and accusations regarding Iran’s nuclear ambitions.

The NPT, which Iran joined in 1970, allows nations to develop civilian nuclear power while prohibiting the creation of nuclear weapons. However, Iran’s nuclear activities have been under scrutiny, with the International Atomic Energy Agency recently declaring Tehran in violation of its NPT commitments. Despite this, Iran maintains that its nuclear program is solely for peaceful purposes.

Iranian Foreign Ministry spokesperson Esmaeil Baghaei mentioned that the government must enforce parliamentary bills, but coordination with parliament is still in the early stages. He also noted that recent events, such as an attack by Israel, influence Iran’s strategic decisions. Israel, which is believed to have nuclear weapons, has accused Iran of nearing nuclear bomb development, a claim Iran denies.

The spokesperson said that Israel’s military action “naturally affect the strategic decisions of the state.”

Iranian President Masoud Pezeshkian reiterated that nuclear weapons contradict a religious edict by Supreme Leader Ayatollah Ali Khamenei. As of now, no final decision has been made by the Iranian parliament regarding leaving the NPT.

Why It Matters: The potential withdrawal from the NPT by Iran comes on the heels of a series of military escalations with Israel. Last week, Iran launched ballistic missiles at Israel, marking a significant escalation in hostilities. This was a direct response to Israeli air raids on Iranian targets.

Despite these tensions, there are signs of potential de-escalation. Iran has reportedly expressed a willingness to resume negotiations over its nuclear program, provided the United States stays out of the conflict, according to a report from the Wall Street Journal. This development could ease geopolitical jitters that have recently impacted global markets.

Furthermore, the ongoing conflict has influenced global oil markets, with investors pouring into energy stocks, anticipating continued volatility in the region. The Energy Select Sector SPDR Fund XLE saw a significant influx of capital following the recent military actions. On Monday, XLE ended the day 0.3% lower at $87.84.

Photo Courtesy: rarrarorro on Shutterstock.com

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