United Nations sanctions are set to be reimposed on Iran later Saturday under the “snapback” mechanism, a move Tehran says will be met with harsh retaliation. The step comes amid accusations Iran violated the 2015 nuclear deal, and echoes a deteriorating diplomatic standoff.
Efforts to delay reinstating all UN sanctions failed after a resolution by Russia and China to push back enforcement did not secure sufficient backing in the Security Council. As a result, the snapback is scheduled to take effect at 00:00 GMT on Sunday.
The snapback process was triggered 30 days ago by Britain, France and Germany (the “E3”), who accused Iran of breaching commitments under the 2015 deal, notably in areas like uranium enrichment and inspector access.
Iran denies seeking a nuclear weapon, and has called the move unlawful.
In response, Iran has recalled its ambassadors in Britain, France and Germany for consultations, escalating the diplomatic tit-for-tat. Meanwhile, President Masoud Pezeshkian downplayed alarm, saying, “It is not like the sky is falling.”
The sanctions to be reimposed include an arms embargo, bans on uranium enrichment and reprocessing, restrictions on ballistic missile-related activity, travel bans and asset freezes on designated persons and entities, and authorisation for seizure of prohibited material. Iran’s rial currency slid further, hitting a new record low as markets reacted to the looming return of sanctions.
Analysts warn the renewed sanctions may worsen Iran’s economic crisis, disrupt trade, limit access to banking and technology sectors, and hamper any remaining avenues for diplomatic engagement.
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A large fire at the import cargo complex of Dhaka airport has caused significant damage to goods and materials belonging to key garment exporters, with losses and impacts on trade potentially amounting to millions of dollars, according to industry leaders on Sunday.
The Orenburg gas processing plant, the world's largest facility of its kind, has been forced to halt its intake of gas from Kazakhstan following a Ukrainian drone strike, according to Kazakhstan's energy ministry.
The Louvre Museum in Paris was closed on Sunday after thieves broke in and stole “priceless” jewellery from the Napoleon collection, the French government said.
Former French president Nicolas Sarkozy said he is not afraid of going to prison, days before beginning a five-year sentence over his 2007 campaign financing case linked to Libya.
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