Iran's Oil Minister Announces Readiness to Deal with Reimposition of UN Sanctions
Iran’s Oil Minister Mohsen Paknejad emphasized that Tehran has been planning for a potential scenario regarding the activation of the snapback mechanism by the European troika which has reimposed the United Nations sanctions against the Islamic Republic.
Speaking to reporters on Sunday, Paknejad said that Iran is ready to tackle the impacts of UN sanctions on its oil sector, including on exports, investment, and equipment imports.He made the remarks amid threats by the United Kingdom, France, and Germany that they would trigger the so-called snapback mechanism under a 2015 nuclear deal between Iran and world powers if Tehran fails to reach a new agreement on its nuclear program in the upcoming months.
Under the dispute resolution mechanism, all the anti-Iran UN sanctions suspended under the nuclear agreement will be restored if one of the five permanent members of the Security Council believes Tehran is violating the Joint Comprehensive Plan of Action (JCPOA).The European parties to the deal have recently suggested they could activate the mechanism in response to what they call Iran's failure to abide by its commitments under the agreement.The 2015 nuclear deal, which stipulated the suspension of anti-Iran sanctions in return for confidence-building restrictions on Tehran's nuclear work, was derailed by the unilateral US withdrawal from the agreement in 2018.Iran waited for over a year for the three European parties to the accord to make up for the US withdrawal, but to no avail, and later started walking back on some of its nuclear commitments as per the accord, which allows the two sides to reciprocate non-compliance.Tehran says it has not violated the agreement and that its reduced commitments are a legal response to the US withdrawal from the deal.
Tehran has warned the European troika over triggering the so-called snapback provisions of the 2015 nuclear accord, stressing that the Iranian nuclear issue has neither a military solution nor can it be solved by referring it to the UN Security Council.Iranian officials have stressed that the three European countries to the 2015 nuclear deal lack legal standing, and since they have not fulfilled their key obligations under the agreement, any endeavour to activate the snapback mechanism is considered abusive and illegal and must be dismissed.
11:17 - 6 مرداد 1404