The looming revival of UN sanctions on Iran is unlikely to halt Tehran’s vital crude exports but could hand Chinese refiners a lucrative advantage, giving them greater access to discounted Iranian oil, Reuters reported on Wednesday.

The Israeli military said it uncovered a rocket in the West Bank city of Tulkarm on Tuesday, the second such incident in recent weeks, in what security officials described as part of an Iranian-directed effort to develop rocket capabilities in the territory.
Border Police sappers neutralized the device, and troops swept the area, the army said.
A week earlier, security forces raided a site near Ramallah, seizing dozens of rockets and arresting three suspects after an attempted launch.
Defense officials said, “foreign elements, led by Iran,” were working to promote rocket fire from the West Bank, which could place cities in central and northern Israel within range.
Iran has not commented on the allegations.

A senior Iranian government official accused the United States of poor conduct after Washington denied visas to most of President Masoud Pezeshkian’s media staff and imposed movement restrictions during his trip to the United Nations General Assembly in New York.
Elyas Hazrati, head of the government’s information council, said Pezeshkian faced no pressure to meet US President Donald Trump, insisting the president makes decisions with his own team.
Hazrati dismissed US claims about lavish shopping by Iranian delegations as “nonsense,” adding: “Americans did not give visas to our journalists and this time their behavior was very bad.”
The Iranian rial fell sharply on Wednesday as markets braced for the reimposition of UN sanctions under the snapback mechanism, with the US dollar trading above 1,070,000 rials on the open market, more than 2% higher than a day earlier.
Sterling climbed to 1,440,000 rials, while the price of the “Emami” gold coin rose 3.5% to 1,070,000,000 rials, reflecting heightened demand for hard assets amid economic uncertainty.
G7 foreign ministers on Wednesday called on Iran to fully meet its obligations under the nuclear Non-Proliferation Treaty, resume cooperation with the UN atomic watchdog and engage in direct talks with the United States.
In a joint statement after talks on the sidelines of the UN General Assembly, they also voiced support for the European powers’ decision to trigger the snapback mechanism to restore UN sanctions, saying it was key to ensuring Iran never obtains a nuclear weapon.

The Iranian rial fell sharply on Wednesday as markets braced for the reimposition of UN sanctions under the snapback mechanism, with the US dollar trading above 1,074,000 rials on the open market, more than 2% higher than a day earlier.
Sterling climbed to 1,440,000 rials, while the price of the “Emami” gold coin rose 3.5% to 1,070,000,000 rials, reflecting heightened demand for hard assets amid economic uncertainty.
On Tuesday, Iran’s central bank governor Mohammadreza Farzin sought to reassure business leaders that the country’s foreign exchange and gold reserves remain secure.
Also on Wednesday, Oil Minister Mohsen Paknejad said that reimposition of UN sanctions will not add "new burdensome restrictions" on the country’s oil sales.
"In the last years, we have faced such severe restrictions from the unjust and unilateral US sanctions that, in practice, [UN sanctions] won't add much to this situation," Paknejad said after a cabinet meeting.
The oil and petrochemical sector contributed roughly a quarter of Iran’s GDP in 2024, making continued exports critical to Tehran’s economy as sanctions loom.
Reuters also reported on Wednesday that the revival of sanctions is unlikely to halt Tehran’s vital crude exports but could hand Chinese refiners a lucrative advantage, giving them greater access to discounted Iranian oil.





