UN rejects Russian-Chinese push to delay Iran sanctions snapback

With UN sanctions on Iran set to be reinstated on September 28, Tehran will halt cooperation with the International Atomic Energy Agency (IAEA), Larijani warned.

“We have pursued every option and mechanism available to resolve this conflict peacefully,” he said in an interview with PBS’s Frontline, recorded on September 22 and partially aired Friday.

Larijani warned US President Donald Trump against new attacks, saying Iran will never surrender.

Asked about damage to bombed nuclear sites, Larijani declined to provide details: “We haven't abandoned any of those locations. They could continue operating as they are or be shut down in the future.”

‘Know-how can’t be taken away’

Israel launched a surprise attack on Iran in June, targeting nuclear and military sites as well as key officials. Iran retaliated with drones and ballistic missiles.

On June 22, the United States joined the campaign, striking nuclear sites at Natanz, Fordow, and Esfahan. A US-brokered ceasefire between Iran and Israel was established on June 24.

Iran’s national security chief dismissed assertions that the country’s nuclear capabilities had been destroyed.

“Iran's nuclear program cannot be destroyed. Once a technology is discovered, it can't be taken away. It's like inventing a machine that gets stolen—you can still rebuild it,” Larijani said.

‘Unreasonable terms’

Any talks about curbing Tehran’s missile program are a non-starter, Larijani said.

“The Americans insist we negotiate specifically about Iran's missiles. They’ve demanded no enrichment at all, or missile ranges below 300 kilometers (185 miles), now 500 kilometers (310 miles) — essentially stripping us of key defensive and offensive capabilities.”

US president Donald Trump told the UN General Assembly on Tuesday that he had offered full cooperation in exchange for Iran suspending its nuclear program, but said his letter to Supreme Leader Ali Khamenei was met with threats.

Larijani said the Islamic Republic is open to dialogue but will reject what he called “unreasonable” terms.

Netanyahu described Iran's pre-war nuclear efforts as an existential threat to Israel and a mortal danger to the world, aimed at destruction and global blackmail.

"Iran was rapidly developing a massive nuclear weapons program and a massive ballistic missile program," he told the UN General Assembly. "We devastated Iran's atomic weapons and ballistic missiles programs."

Israel launched a surprise attack on Iran in June, targeting nuclear and military sites and top military and nuclear officials. Iran retaliated by firing drones and ballistic missiles.

Iran reported over 1,000 fatalities and 5,332 injured while Tehran's counterattacks killed 31 Israeli civilians and an off-duty soldier.

The United States on June 22 joined the campaign, targeting nuclear sites in Natanz, Fordow and Isfahan. Two days later, US President Donald Trump brokered a ceasefire between Iran and Israel.

"President Trump and I delivered on our promise to prevent Iran from developing nuclear weapons,” Netanyahu said, praising the US president for "his bold and decisive action".

"We must not allow Iran to rebuild its military nuclear capacities. Iran's stockpiles of enriched uranium must be eliminated, and UN Security Council sanctions on Iran must be snapped back,” Netanyahu said.

The United Kingdom, France and Germany have activated the snapback mechanism under the UN Security Council Resolution, meaning the UN sanctions will go back into effect on September 28 unless the Security Council takes action by tomorrow.

Israel not done yet

Netanyahu said that "Israel rebounded from its darkest day to deliver one of the most stunning military comebacks in history, but we're not done yet."

He called Iran the core of a terror axis, backing proxies like Hamas, Hezbollah in Lebanon, and Houthis in Yemen, who "shout Death to America" and murder innocents.

In what he called a "pop quiz" for the delegates, Netanyahu asked: "Who shouts ‘Death to America?" and "Who has murdered Americans and Europeans in cold blood?” He said the answer was Iran and its allied forces.

Netanyahu spoked and envisioned a future where Iranian people overthrow the government in Iran, restoring ancient ties with Israel for global benefit.

The Israeli prime minister has in recent years repeatedly addressed the Iranian public through video messages, urging them to rise up against the Islamic Republic and reject their leaders.

In these messages, Benjamin Netanyahu has often portrayed Israel as a friend of the Iranian people while condemning Iran’s government for its nuclear program, regional policies, and human rights record.

According to the Statistical Center of Iran, GDP shrank by 0.1% in the spring, ending 17 straight quarters of expansion. Industrial and mining output, which grew 5.9% last spring, fell to -0.3% this year, while agriculture plunged from +2.3% to -2.7%.

Severe water and electricity shortages disrupted production across both sectors, hitting farms and factories alike.

With the so-called snapback of international sanctions due on September 2, Iran faces a narrowing path to growth—and a worrying prospect of rising unemployment and public discontent.

Mounting debt

A separate Central Bank report shows government debt to the bank surged 63% year-on-year as of June, reflecting the administration’s failure to meet revenue targets.

Officials say only 60% of projected revenues were generated in the first five months of the year, worse than in previous years and well short of the levels needed to stabilize public finances.

Since 2018, when President Donald Trump withdrew the United States from a 2015 nuclear deal and reimposed sanctions, about a third of Iran’s annual budget has gone unrealized.

The IMF now estimates public debt at 37% of GDP and climbing. This trend is likely to accelerate if sanctions further limit oil revenues.

Record capital flight

The Central Bank also reported a net capital account of -$21.7 billion for the last fiscal year—the highest on record and 2.5 times greater than in 2020.

Capital flight has been accelerating since 2020, as businesses and households move assets abroad to escape currency depreciation and political uncertainty.

The scale of outflows highlights both a collapse in investor confidence and the inability of the banking system to hold foreign exchange inside the country.

Oil gains vanished

Iran earned $66 billion from oil, petroleum products and natural gas exports last year, a 17% increase. Including non-oil goods, total exports reached $115 billion, $27 billion more than imports.

On paper, that left the goods trade in surplus.

But the services sector recorded a record $12 billion deficit, dragging the overall trade balance for goods and services down to just $13 billion.

Combined with the $21.7 billion in capital flight, much of the hard currency generated by oil exports is effectively leaving the country.

The result is sustained pressure on Iran’s already fragile foreign reserves and further instability in the rial, which hit a record low of 1.08 million to the dollar on Thursday.

The bottom line is that Tehran’s extremely hard-gained oil cash is being wiped out by falling output, runaway debt and unprecedented capital flight—leaving the country perilously exposed just as fresh sanctions loom.

Fars News Agency described the use of online images as “poor judgment” and said it gave rival outlets grounds to call the entire program fabricated. “Labeling all images, including archival ones, as exclusive allowed hostile media to portray the film as fake,” Fars wrote.

The documentary, broadcast on September 24 under the title The Spider’s Hideout, was presented as evidence of an intelligence penetration into Israel. It displayed materials said to be connected to Israeli nuclear facilities, including the Dimona site, along with details about individuals described as involved in the country’s nuclear program.

Intelligence Minister Esmail Khatib appeared in the program, calling the operation “a major infiltration” that yielded “a treasure of top-secret intelligence.” He described the outcome as the result of “months of complex planning and multiple successful operational phases inside the enemy’s structure.”

Since its release, however, attention has centered on the documentary’s reliance on readily available online photos, presented as exclusive visuals. The revelation has fueled ridicule across social media and intensified criticism of the government’s narrative.

The film was promoted as part of a broader presentation that Iran had secured “millions of pages” of Israeli defense documents. Earlier this year, state media reported that Iranian intelligence had obtained “abundant strategic and sensitive information” from inside Israel. At the time, Israeli security analysts told Iran International those assertions were exaggerated and part of psychological warfare.

Observers assess that The Spider’s Hideout is part of an effort to recast Iran’s recent setbacks against Israel, including intelligence and military losses, as victories. The exposure of online-sourced material has instead raised doubts over the credibility of the government’s portrayal, even among domestic audiences.

Iran and European powers held last-ditch talks in New York on Tuesday to try to prevent the revival of UN sanctions on Tehran, though diplomats on both sides cautioned that chances of success remain slim.

Last week, a UN Security Council resolution on whether to permanently lift UN sanctions on Iran was voted down.

All UN sanctions on Iran will be reimposed at 8PM Eastern time on Friday (0000 GMT Saturday) after the E3 — Germany, France and Britain — triggered a 30-day process accusing Tehran of violating the 2015 nuclear deal aimed at preventing it from developing nuclear weapons.

The E3 have offered to delay deadline by six months if Tehran agrees to resume talks with Washington and cooperate with UN nuclear watchdog.

French President Emmanuel Macron said he pressed his Iranian counterpart Masoud Pezeshkian on the E3’s three non-negotiable demands during their meeting on the sidelines of the UN General Assembly on Wednesday.

The demands, he said, include full access for International Atomic Energy Agency inspectors in Iran, transparency on enriched uranium stockpiles and the immediate resumption of negotiations.

Pezeshkian said a "definitive solution" was possible after talks with the French president. But on Thursday, he warned that Iran is fully prepared to face any scenario and would adjust its policies if UN sanctions are reinstated.

UN spokesperson Stéphane Dujarric told Iran International on Thursday that the window for diplomacy was still open.

"I think it is important that the Islamic Republic as well as the Europeans and the US seize the moments, the few days or hours that are left to try to work for a diplomatic solution to the Iranian nuclear issue," he said.

Earlier this week, Iran’s Supreme Leader Ali Khamenei, who holds ultimate authority on Iranian policy, ruled out talks with the United States, saying they would lead to a “dead end.”