Iran Rejects Negotiations Before Easing American Pressure... Warnings of Accelerated Nuclear Program
The message from US President Trump to Iranian Supreme Leader Khamenei reflects an American approach to exhaust diplomatic solutions before considering military options for addressing the nuclear issu
March 23, 2025, 10:31 pm

Iran Rejects Negotiations Before Easing American Pressure... Warnings of Accelerated Nuclear Program

النووي الإيراني

Tehran is preparing to respond to an initiative from US President Donald Trump offering negotiations on a new nuclear agreement. US Middle East envoy Steve Witkoff clarified today, Sunday, that the message addressed to Iranian leader Ali Khamenei represents an attempt to avoid military options. He told Fox News, "We don't need to resolve everything militarily."

Witkoff added, "Our message to Iran is: Let's sit together and see if we can, through dialogue and diplomacy, reach the right solution. If we can, we're ready for that. And if we can't, the alternative is not a good option."

For his part, Iranian Foreign Minister Abbas Araghchi stated on Sunday that engaging in discussions with the United States is unlikely unless Washington modifies its pressure policy.

He explained, "When we say no to negotiations with the United States, it stems from history and experience," referring to Trump's withdrawal during his first term from the nuclear agreement that Tehran concluded with six major powers in 2015.

Araghchi continued, "In my opinion, the 2015 agreement cannot be revived in its current form. That would not be in our interest, because our nuclear position has developed significantly, and it's no longer possible to return to previous conditions." However, he indicated that the 2015 agreement could still form "a basis and model for negotiation."

Trump had previously revealed earlier this month that he sent the message to Khamenei, warning that "there are two ways to deal with Iran: militarily or through reaching an agreement."

Khamenei rejected the American offer to enter into talks, describing it as "deception" and adding that negotiating with the Trump administration "would lead to tightening sanctions and increasing pressure on Iran."

While Trump has kept the door open for reaching a nuclear agreement with Tehran, he has renewed the application of the "maximum pressure" policy he followed during his first term, which includes efforts to reduce Iran's oil exports to zero. The US administration has imposed four rounds of sanctions on Iranian oil sales since Trump's return to the White House.

After Trump's withdrawal in 2018, he resumed imposing US sanctions that negatively affected the Iranian economy. A year later, Tehran began exceeding the restrictions imposed by the agreement on its nuclear program, surpassing them by stages. Indirect talks over months between Tehran and Trump's predecessor, Joe Biden, failed to revive the 2015 nuclear agreement.

The Director General of the International Atomic Energy Agency, Rafael Grossi, warned last month that time is running out to reach an agreement to control Iran's nuclear program, as Tehran continues to accelerate uranium enrichment to levels approaching weapons-grade.

Western nations accuse Iran of seeking to acquire nuclear weapons by enriching uranium to a purity level of up to 60%, which exceeds what is required for the civilian use that Tehran claims is the goal of its nuclear program. Iranian authorities claim that their nuclear program is for peaceful purposes and that they adhere to their commitments under international law.

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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.