Iran warns of 'nuclear crisis' if JCPOA deal is scrapped

The world will have to confront "another nuclear crisis" if the landmark 2015 agreement between Iran and world powers is scrapped, Iran's deputy foreign minister warned.

In a speech at London's Chatham House on Thursday, Abbas Araghchi said the "atmosphere of uncertainty" under US President Donald Trump has made it more difficult for Iran to stay with the deal, also known as the Joint Comprehensive Plan of Action (JCPOA).

"If we lose JCPOA, we would face another nuclear crisis, which would be very difficult to be resolved this time," he said.

"This is a choice between security and insecurity at the world level."

Araghchi, who served as Iran's top nuclear negotiator, also hinted that Iran could withdraw from the deal if the country fails to reap the expected benefits of the agreement.

"For Iran, we are supposed to benefit from the sanctions' lifting," he said. "If companies and banks are not working with Iran, we cannot remain in a deal that has no benefit for us."

Under the deal signed in Vienna between Iran and six world powers - the US, Russia, Germany, France, Britain and China, as well as the European Union - the leadership in Tehran scaled back the country's uranium enrichment programme.

According to UN inspectors, Iran continues to be in compliance with that condition.

In exchange of Iran scaling back its nuclear programme, sanctions on its economy were lifted, and Tehran was allowed to resume trading oil and gas on the international market. A total of $100bn in frozen Iranian assets was also released.

Following the deal, Iran has gradually opened its country to foreign investment and welcomed more foreign visitors, injecting billions of dollars into its ailing economy.

However, there are several US sanctions that remain in place.

Analysts said that makes even non-American companies and investors who want to do business with Tehran wary of being penalised and blacklisted by Washington.