Iranian industry official downplays impact of snapback on production

Mohammad Eslami, head of Iran’s Atomic Energy Organization, arrived in Moscow on Monday for negotiations, Russian media reported, without specifying whom he would meet.

The visit comes after the UN Security Council decided not to permanently lift sanctions against Tehran. The decision followed a move last month by France, Germany and Britain to launch a 30-day process to reimpose measures, accusing Iran of failing to uphold the 2015 nuclear deal.

Tehran denies the charge, while Moscow has declared support for Iran’s right to pursue “peaceful nuclear energy.”

Tehran’s possible withdrawal from the Nuclear Non-Proliferation Treaty is not a mere threat but a prepared plan under review at different levels of government, an Iranian parliamentarian said on Monday.

The proposal is ready to be presented in the open session, Hosseinali Haji-Deligani, a member of the parliament’s Article 90 committee, said.

“Fortunately there is consensus among the country’s officials, and all decision-making bodies consider withdrawal from the NPT the best option to counter the European countries’ move,” he added.

The decision by France, Germany and Britain to trigger the snapback mechanism is unlawful and will have consequences, an Iranian foreign ministry official said on Monday.

“The activation of the snapback mechanism by France, Germany and Britain is “illegal and provocative and will carry consequences,” Hossein Noushabadi, director-general for parliamentary affairs at Iran’s foreign ministry, said.

“The international community must reject this illegal act by the three countries and avoid granting it any legitimacy.”

Europe and the United States have judged Iran to be vulnerable and intend to exploit every available measure to increase pressure on Tehran, the daily Farhikhtegan wrote Monday.

“Europe and the United States, influenced by Israeli claims and the Iranian opposition, have concluded that Iran is weak, and for that reason they do not want to overlook even the smallest tool for pressuring Iran.”

The paper also referred to proposals for a meeting between President Masoud Pezeshkian and US president Donald Trump on the sidelines of the UN General Assembly, invoking a proverb.

“The eagerness of these people for talks with America is like the ruckus in the bride’s house, while in the groom’s house nothing special is happening,” the paper added.

Fresh UN sanctions triggered by the snapback mechanism will fuel inflationary pressure and deepen economic strain, Alireza Kiani, head of the money and capital market committee of Tehran’s Chamber of Commerce, said Monday.

“If snapback is activated, the government must seriously reconsider its currency policies. With continued suppression of the exchange rate, more traders and producers will exit the market and capital flight will increase,” Kiani added.

The latest crisis is marked by worsening disruption in the circulation of money and capital, Kiani said.

“The private sector lacks access to resources and shows little incentive for reinvestment.”