Hi everyone and peace and love through Our Lord Jesus Christ,
Keeping a close eye on the nuclear side of developments regarding Iran and its atomic programme. Heres an update as from 26/08/06.
_______________________________________________________________________________________
Ahmadinejad inaugurates new atomic project Saturday August 26, 09:51 AM
ARAK, Iran (Reuters) - Iranian President Mahmoud Ahmadinejad on Saturday launched a new phase in the Arak heavy-water reactor project, part of Iran's atomic programme which the West fears is aimed at producing bombs.
The president inaugurated the project and then toured the site at Khondab, which is near Arak 120 miles (190 km) southwest of the capital Tehran. The plant's plutonium by-product could be used to make atomic warheads. The move came days before a U.N. deadline for Iran to halt uranium enrichment, the part of Tehran's atomic programme which is the biggest worry to the West. But the latest development is likely to raise further fears in Western capitals.
Iran faces possible sanctions if it does not heed the August 31 deadline to stop enrichment, but divisions at the United Nations over how to handle Iran could delay any action. A report in the U.S. newspaper The Los Angeles Times said Washington was ready to take independent sanctions measures with its allies if necessary.
An Iranian nuclear official said this week that heavy water production itself was not a proliferation risk but a Western diplomat said such a move would not be a constructive step.
Western nations accuse Iran of seeking to master technology to produce nuclear weapons. Iran, the world's fourth largest oil exporter, insists its aim is only for electricity.
"Inaugurating the heavy water production plant in Arak is a big step towards using Iran's right, which means reaching peaceful nuclear technology," Foreign Ministry spokesman Hamid Reza Asefi was quoted by state television as saying.
A group of correspondents from foreign news organisations with Iranian journalists were taken to Khondab for the ceremony.
The complex was protected by dozens of anti-aircraft guns and surrounded by a four-metre high barbed wire fence. Photographers and TV journalists were asked not to take any images except in areas where they were specifically permitted.
The Iranian nuclear official had said heavy-water production had no military use so supervision by the U.N. watchdog, International Atomic Energy Agency (IAEA), was not obligatory.
"The product of this project provides for cooling and depleting systems of the reactor, that can be used in various industries," the official had told Reuters.
An engineer at the site, who asked not to be named, told Reuters the heavy-water plant had become operational more than a month ago, on July 11, but Saturday was the official launch. He said the reactor part of the complex was still being built.
"BE AFRAID"
The West's main concern is Iran's programme for enriching uranium, a process that can be used to make fuel for nuclear power stations or material for bombs.
The U.N. Security Council passed a resolution on July 31 giving Iran 30 days to halt enrichment or face possible sanctions. The resolution also cited a call by the IAEA for Iran to reconsider construction of its heavy water reactor project.
The Los Angeles Times said in its report that Washington had indicated it was prepared to form an independent coalition to freeze Iranian assets and restrict trade if the U.N. Security Council fails to penalise Tehran should it miss the deadline.
Iran's deputy parliament speaker, Mohammad Reza Bahonar, warned the West in comments published by Iran's Sharq newspaper on Saturday that putting pressure on the country could prompt public calls for Iran to pursue a weapons programme.
"Be afraid of the day that the Iranian nation comes into the streets and stages demonstrations to ask the government to produce nuclear weapons to combat the threats," he said.
Iranian officials consistently say Iran has no plans to build atomic weapons. Iran's highest authority, Supreme Leader Ayatollah Ali Khamenei, has issued a religious decree, saying making, stockpiling or using nuclear weapons was against Islamic beliefs, the official IRNA news agency reported in August 2005.
Six world powers offered Iran incentives to halt enrichment. But Iran has only hinted it might be ready to consider halting the work as a result of talks, not as a precondition. The reply seemed designed to divide opinion among the six powers.
The United States has said the six powers will move quickly to adopt sanctions if Iran disregards the deadline. Britain, Germany and France have been less conclusive in public.
Russia and China, both trade partners of Iran, have been unwilling and could veto sanctions in the Security Council.
________________________________________________________________________________________
Iran makes progress in heavy-water atomic plant Saturday August 26, 08:34 AM
ARAK, Iran (Reuters) - Iran has completed a new phase in its Arak heavy-water reactor plant, a presidential official said on Saturday, referring to part of Iran's atomic programme which the West fears is aimed at producing bombs.
The announcement comes days before a U.N. deadline for Iran to halt uranium enrichment, the part of the programme which is the biggest worry to the West. But the latest development is likely to raise further fears in Western capitals. The presidential official said President Mahmoud Ahmadinejad would give a speech later in the day "announcing that the heavy-water project has become operational".
Iran is building a heavy-water nuclear reactor at Arak, 120 miles (190 km) southwest of the capital Tehran. The plant's plutonium by-product could be used to make atomic warheads.
An Iranian nuclear official said this week that heavy water production itself was not a proliferation risk but a Western diplomat said such a move would not be a constructive step.
Western nations accuse Iran of seeking to master technology to produce nuclear weapons. Iran, the world's fourth largest oil exporter, insists its aim is only for electricity.
A small group of correspondents from foreign news organisations were taken with Iranian journalists to Arak before travelling on to the nearby town of Khondab, where the heavy-water project is being built, to attend the speech.
The Iranian nuclear official had said Iran would start up heavy-water production but not the reactor. He said this unit had no military use so supervision by the U.N. watchdog, International Atomic Energy Agency (IAEA), was not obligatory.
"The product of this project provides for cooling and depleting systems of the reactor, that can be used in various industries," the official had told Reuters.
"BE AFRAID"
The West's main concern is Iran's programme for enriching uranium, a process that can be used to make fuel for nuclear power stations or material for bombs.
The U.N. Security Council passed a resolution on July 31 giving Iran 30 days to halt enrichment or face possible sanctions. The resolution also cited a call by the IAEA for Iran to reconsider construction of its heavy water reactor project.
Iran's deputy parliament speaker, Mohammad Reza Bahonar, warned the West in comments published by Iran's Sharq newspaper on Saturday that putting pressure on the country could prompt public calls for Iran to pursue a weapons programme.
"Be afraid of the day that the Iranian nation comes into the streets and stages demonstrations to ask the government to produce nuclear weapons to combat the threats," he said.
Iranian officials consistently say Iran has no plans to build atomic weapons. Iran's highest authority, Supreme Leader Ayatollah Ali Khamenei, has issued a religious decree, saying making, stockpiling or using nuclear weapons was against Islamic beliefs, the official IRNA news agency reported in August 2005.
Six world powers have offered Iran incentives to halt enrichment. But Iran has so far only hinted it might be ready to consider halting the work as a result of talks not as a precondition, which Western diplomats say was the crux of the package.
The reply seemed tailored to divide the four Western powers and Russia and China who agreed to the deadline on August 31.
The United States has said the six powers will move quickly to adopt sanctions if Iran disregards the deadline. Britain, Germany and France have been less conclusive in public.
Russia and China, both trade partners of Iran, have been unwilling and could veto sanctions in the Security Council.
________________________________________________________________________________________
Oil prices climb on tropical storm, Iran fears Friday August 25, 06:34 PM
LONDON (AFP) - World oil prices rose on supply concerns caused by the threat of a tropical storm near the US and fears that Iran may disrupt exports if hit by economic sanctions over its disputed nuclear program, analysts said.
In London, Brent North Sea crude for October delivery climbed 60 cents to 73.28 dollars per barrel in electronic deals.
New York's main contract, light sweet crude for delivery in October, advanced 69 cents to 73.05 dollars per barrel in pit trading.
Although the British stock market is closed on Monday for a public holiday, oil trading in London continues as normal.
Crude futures were higher on Friday amid concerns that a storm in the Caribbean could cause disruption to US Gulf supplies.
According to the National Hurricane Center (NHC) in the United States, a tropical depression currently north of Venezuela was threatening to become a tropical storm later Friday.
The depression, which will be known as Ernesto should it turn into a storm, has grabbed the market's attention owing to its flight towards the Gulf of Mexico, where oil platforms produce between 25 and 30 percent of US crude.
"With landfall currently looking like it could take place in around a weeks time somewhere on the Louisiana/Texas coast -- the worst possible area from the point of view of the US oil refining industry -- this storm has the potential to develop into the first big hurricane scare for the oil market so far this season," said Barclays Capital analyst Kevin Norrish.
Last year, energy facilities on the rig-heavy US Gulf Coast were ravaged by hurricanes, pushing oil prices to then-record high points.
Elsewhere, the market continued to focus on Iran, the world's fourth biggest producer of crude. In line with a UN Security Council resolution, the United States and its European allies insist that Iran must stop enriching uranium by August 31 or face the threat of sanctions.
Analysts argue that sanctions could lead to Iran disrupting its vital oil supplies. Iran pumps about 4.0 million barrels of oil per day of which around 2.7 million barrels are exported.
"The market is positioning itself for UN sanctions," said Mark Pervan, an energy analyst for Daiwa Securities based in Melbourne.
German Chancellor Angela Merkel said Friday that Iran's response to an international offer over its nuclear program lacked "important elements" but that the door remained open to resolve the crisis.
Speaking at a joint press conference with French President Jacques Chirac, Merkel said Tehran had to grasp the package of incentives it was being offered in return for suspending uranium enrichment.
Iran, which has insisted its nuclear program is for peaceful purposes, is the second-biggest player in the Organization of Petroleum Exporting Countries after kingpin Saudi Arabia.