Iran’s Minister of Economy: Sanctions snapback impossible
Iran's Minister of Economic Affairs and Finance Ali Tayyebnia says the US-led sanctions, lifted under Iran’s nuclear deal six world powers, could not be reimposed on the country.
Speaking at a conference on insurance industry development in Tehran, Tayyebnia described the sanctions as "irreversible", reiterating that “the wall of anti-Iran sanctions has already collapsed”, with major foreign companies entering the country’s lucrative market.
The Iranian minister also described the Joint Comprehensive Plan of Action (JCPOA) as an international agreement which “cannot be violated”.
“Any country seeking to violate its commitments (under the JCPOA) will lose its standing and will be internationally isolated,” he was quoted as saying by IRNA news agency on Saturday.
The Iranian official said Tehran has fully implemented its commitments in this regard and it is expected that other sides would comply with their obligations under the JCPOA.
Iran and the five permanent members of the UN Security Council – the United States, France, Britain, China and Russia – plus Germany started to implement the JCPOA on January 16.
Under the JCPOA, Iran undertook to put limitations on its nuclear program in exchange for the removal of nuclear-related bans imposed against Tehran.
Tayyebnia’s comments came shortly after the US Senate unanimously approved a 10-year extension of an anti-Iran legislation.
The so-called Iran Sanctions Act (ISA) authorizes the US president to impose sanctions on Iran.
The measure, which has already been passed by the House, will be sent to President Barack Obama who is expected to sign it into law.
The White House’s Principal Deputy Press Secretary Eric Schultz said Friday he “would expect” US President Barack Obama to sign the ISA into law.
Iranian officials have described the vote as violation of the JCPOA, warning that Tehran will take retaliatory measures.
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