Iran likely to reduce nuclear obligations as US rules out $15 billion oil credit: report

'If Iran decides, it can produce 20% enriched uranium in a day to two days,' Iran's agency spokesman said

President Hassan Rouhani said Wednesday that Iran would take additional measures to accelerate its nuclear activities, state television reported. 

Iran gave an ultimatum demanding the credit line for oil sales over four months in order to uphold its commitments to the Joint Comprehensive Plan of Action (JCPOA) executed under former president Barack Obama's administration along with the five permanent members of the UN Security Council -- China, France, Russia, United Kingdom, United States— plus Germany. 

"Our return to the full implementation of the nuclear accord is subject to the receipt of $15 billion over a four-month period, otherwise the process of reducing Iran's commitments will continue," Deputy Foreign Minister Abbas Araqchi said, according to Iran's Fars news agency. 

"Either Europe has to buy oil from Iran or provide Iran with the equivalent of selling oil as a credit line guaranteed by Iran's oil revenues, which in some sense means a pre-sale of oil," Araqchi added.

But he said there were still "serious disagreements on the agenda", while the United States has reportedly refused to agree to the terms, as President Donald Trump's administration continues to wage its pressure campaign on Iran by imposing harsh sanctions on the Islamic Republic. 

"If Iran decides, it can produce 20% enriched uranium in a day to two days," Fars quoted Iran's atomic agency spokesman Behrouz Kamalvandi as saying.  

Tehran and Washington have been at loggerheads since May last year when US President Donald Trump unilaterally withdrew from the nuclear accord and began reimposing sanctions.