The Fars News Agency is reporting that Iran has exceeded the 300 kilograms of 3.67% enriched uranium it is allowed to stockpile under the 2015 Joint Comprehensive Plan of Action (JCPOA). Tehran had previously stated that due to the United States reneging on the nuclear deal and reapplying sanctions, coupled with the inability of the Europeans to secure financial transactions to get around sanctions, it would take such a step in regard to the stockpile limit.

On June 17, Behrouz Kamalvandi, spokesman for Iran’s Atomic Energy Organization, told reporters that not only would Iran soon exceed the 300 kilogram threshold of enriched uranium, but that once it did so, the rate of increased production would accelerate dramatically.

The Fars article said that the announcement was in line with “part of the first step of the decision by the Supreme National Security Council (SNSC) in reducing its nuclear commitments.” In May, on the one-year anniversary of the United States' exit from the nuclear deal, the SNSC announced that it would give Europe 60 days to devise a way to facilitate trade with Iran. After the Donald Trump administration withdrew the United States from the JCPOA and decided to reapply sanctions, many European firms pulled back from investment and financial transactions with Iran for fear of the United States imposing secondary sanctions against them.

Iranian Foreign Ministry spokesman Abbas Mousavi would not confirm or deny the Fars reporting on the stockpile limit and instead referred reporters to Iran’s Atomic Energy Organization. Mousavi did, however, talk to reporters about Iran’s expectations in regard to Europe and the nuclear deal.