Iran Nuclear Deal

Lord Lamont of Lerwick Excerpts

Wednesday 8th May 2019 Lords Chamber

[Lord Ahmad of Wimbledon]

On the noble Lord’s final point, transatlantic solidarity is an important attribute but there are times when we differ. We have not waited for the arrival of the President of the United States to make clear our differing perspectives on the JCPOA and our other differences. The noble Lord will be aware that Secretary of State Pompeo is currently visiting London and has had various meetings with the Foreign Office, including with my right honourable friend the Foreign Secretary, at which this issue was discussed with him. Our view remains clear: we need to work to ensure that the JCPOA remains on the table; we need to ensure that the SPV alleviates the suffering of the Iranian people; we remain committed to the SPV, along with our European partners; and we differ from the United States in our approach in this respect.

[Lord Lamont of Lerwick (Con)]

My Lords, I draw attention to my entry in the register of interests: I am the trade envoy to Iran and chairman of the British Iranian Chamber of Commerce. Although this is a very gloomy development, is it not important to remember that President Rouhani said in the statement referred to that Iran does not intend and does not want to withdraw from the JCPOA, but wants it to persist? Is it not the case that the International Atomic Energy Agency has certified that Iran is fully compliant with the agreement on no fewer than 11 or 12 occasions? One must draw the conclusion that Iran has been pushed to react by the extra sanctions and the aggressive action of the United States in trying to reduce Iran’s exports to zero, which would have a devastating impact on living standards in the country. The Minister said that the Government remain committed to the JCPOA, but does he acknowledge that the SPV that has been set up—I acknowledge the great efforts of civil servants to make it work—is extremely limited? It is restricted to food and medicines; that is all. It does not obviate the need for a bank when doing business with Iran. In fact, not a single transaction has been made under the mechanism so far; something much more ambitious must happen if there is to be any trade between Europe and Iran.

[Lord Ahmad of Wimbledon]

On my noble friend’s final point, no trade has happened yet because the SPV is not yet operational. We continue to work on its technical detail. My noble friend is right to mention President Rouhani’s declaration that he is keen to ensure that the JCPOA, a working agreement, remains on the table. The United Kingdom shares that aspiration. Therefore, a 60-day window still exists; we hope that no other steps to change the situation we currently face will be taken during that time. As I said in the Statement, we regret the announcement from Tehran but it is important that we continue to look at how we can work through the challenges we face. Equally, we must look at the SPV’s creation and initiation of the process; for example, my noble friend talked about medicines and humanitarian aid, which are important, but this is also about looking at agricultural products and consumer goods. It is important that we continue to work to ensure that the SPV becomes operational.