Security Council to Discuss Iran's Highly Enriched Uranium... and Grossi Warns
The increasing calls to reimpose international sanctions on Iran reflect growing concern about the Iranian regime's intentions and its continued evasion of its international obligations and developmen
March 11, 2025, 10:21 pm

Security Council to Discuss Iran's Highly Enriched Uranium... and Grossi Warns

The UN Security Council plans, tomorrow Wednesday, to host a closed session to review the issue of Iran's growing stock of highly enriched uranium, according to Reuters, in a move that embodies escalating global fears about Tehran's nuclear ambitions.

Six countries among the 15 Security Council members, including France, Greece, Panama, South Korea, Britain, and the United States, initiated the demand for this session, suggesting an increasing global consensus on the dangers of Iran's nuclear program.

Diplomats revealed to Reuters their intention to also call for the Council to review Iran's level of compliance in providing "the necessary data to clarify outstanding issues related to undeclared nuclear materials detected in several facilities inside Iran" to the International Atomic Energy Agency, in a gesture to the continuity of Tehran's policy of deception and evasion.

The Iranian mission to the United Nations has not yet rushed to issue any statement regarding this news, in a silence that reflects the embarrassment of the Iranian position.

The European Troika, which is Britain, France, and Germany, notified the Security Council of their readiness, if necessary, to resume the application of global sanctions on Iran to prevent it from acquiring a nuclear weapon, in a position that confirms the seriousness of the European approach to the Iranian threat.

The time element in this context is of doubled importance, as the period of Iran's obligations under the nuclear agreement, based on Resolution 2231 issued by the UN Security Council on July 20, 2015, is approaching its end, and the parties that signed the agreement have only eight months until next October to activate the "snapback mechanism," i.e., restoring the application of canceled global sanctions on Tehran, and in this scenario, countries with veto power cannot obstruct the implementation of the "snapback mechanism."

For his part, US President Donald Trump directed the US representative at the United Nations to coordinate with Washington's partners to restore the application of global sanctions and restrictions on Iran, in an initiative that strengthens international efforts to contain the Iranian threat.

For her part, the EU Commissioner for Foreign Relations, Kaja Kallas, noted last Sunday that "we must adopt a stricter approach towards Iran," focusing on the inevitability of coordination with the United States regarding Tehran, in confirmation of the European-American consensus on the dangers of Iranian behavior.

During a press interview, Kallas reviewed the nature of Iran's nuclear program and Tehran's regional role, and also responded to a question about recent tensions in EU-US relations, announcing: "We have always considered ourselves loyal allies, and have always been friends and partners, and we cooperated on multiple files, including Ukraine and West Asia, and today we observe cooperation between countries such as Russia, China, Iran, and North Korea, and I think this is one of the moments in which we should work as partners across the Atlantic."

In a related context, the Director-General of the International Atomic Energy Agency, Rafael Grossi, recently issued concerning warnings through an interview with Bloomberg, where he pointed out that sanctions have not proven effective, as Iran has clearly been able to overcome them, noting that Iran's nuclear program has witnessed significant expansion, especially since 2018.

Grossi reviewed the IAEA's assessment of Iran's uranium stockpile levels, and indicated that recent reports by international inspectors showed a 50% increase in the stockpile of highly enriched uranium during the past three quarters, a sign of alarming acceleration in Iran's nuclear program.

The head of the IAEA continued that the current stockpile level shortens the time gap between Iran and manufacturing a sufficient amount of fuel to produce a nuclear warhead to become "just a few days," which represents a direct challenge to regional and global peace and stability.

Russia Concerned... Kremlin Communicates with Washington about Syrian Developments Title of the Article: Efforts for the Voluntary Return of ISIS Families from Al-Hol Camp to Iraq

BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, held its Annual General Meeting (AGM) at the company’s headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM held on 26 March 2024. The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended 31 December 2024. Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the Board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, the shareholders endorsed the allocation of a total amount of BD 172,500 as remuneration to the members of the Board for the year ended 31 December 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks. The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law.
In alignment with regulatory requirements, the session approved the reappointment of Ernst & Young (EY) as the company’s External Auditors for the fiscal year 2025, covering both the parent company and its subsidiaries—Sinnad and Bahrain FinTech Bay. The Board was authorised to determine the external auditors’ professional fees, subject to approval from the CBB, and the meeting concluded with a discussion of any additional issues as per Article (207) of the Commercial Companies Law.
Speaking on the company’s performance, Mr. Mohamed Al Bastaki, Chairman BENEFIT , stated: “In terms of the financial results for 2024, I am pleased to say that the year gone by has also been proved to be a success in delivering tangible results. Growth rate for 2024 was 19 per cent. Revenue for the year was BD 17 M (US$ 45.3 Million) and net profit was 2 Million ($ 5.3 Million).

Mr. Al Bastaki also announced that the Board had formally adopted a new three-year strategic roadmap to commence in 2025. The strategy encompasses a phased international expansion, optimisation of internal operations, enhanced revenue diversification, long-term sustainability initiatives, and the advancement of innovation and digital transformation initiatives across all service lines.
“I extend my sincere appreciation to the CBB for its continued support of BENEFIT and its pivotal role in fostering a stable and progressive regulatory environment for the Kingdom’s banking and financial sector—an environment that has significantly reinforced Bahrain’s standing as a leading financial hub in the region,” said Mr. Al Bastaki. “I would also like to thank our partner banks and valued customers for their trust, and our shareholders for their ongoing encouragement. The achievements of 2024 set a strong precedent, and I am confident they will serve as a foundation for yet another successful and impactful year ahead.”
Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi commented, “The year 2024 represented another pivotal chapter in BENEFIT ’s evolution. We achieved substantial progress in advancing our digital strategy across multiple sectors, while reinforcing our long-term commitment to the development of Bahrain’s financial services and payments landscape. Throughout the year, we remained firmly aligned with our objective of delivering measurable value to our shareholders, strategic partners, and customers. At the same time, we continued to play an active role in enabling Bahrain’s digital economy by introducing innovative solutions and service enhancements that directly address market needs and future opportunities.”
Mr. AlJanahi affirmed that BENEFIT has successfully developed a robust and well-integrated payment network that connects individuals and businesses across Bahrain, accelerating the adoption of emerging technologies in the banking and financial services sector and reinforcing Bahrain’s position as a growing fintech hub, and added, “Our achievements of the past year reflect a long-term vision to establish a resilient electronic payment infrastructure that supports the Kingdom’s digital economy. Key developments in 2024 included the implementation of central authentication for open banking via BENEFIT Pay”
Mr. AlJanahi concluded by thanking the Board for its strategic direction, the company’s staff for their continued dedication, and the Central Bank of Bahrain, member banks, and shareholders for their valuable partnership and confidence in the company’s long-term vision.