Iran Maintains Oil Sales Despite Potential Sanctions

(MENAFN) Iran declared on Wednesday that its oil exports will remain unaffected even if UN sanctions are reinstated under the so-called snapback mechanism.

Petroleum Minister Mohsen Paknejad explained that the snapback mechanism “doesn’t directly discuss oil sales, but rather issues in other areas such as commercial, financial, sales, and sea transportation.”

“Oil sales continue, and we have no problem,” a state news agency cited him as saying while attending the UN General Assembly in New York.

He added, “It is natural that if we encounter a situation that requires taking measures, the necessary planning will be made.”

European parties to the 2015 nuclear deal – the UK, France, and Germany – activated the snapback mechanism under UN Security Council Resolution 2231 on Aug. 28, after Iran ceased cooperation with the UN nuclear watchdog, accusing the International Atomic Energy Agency (IAEA) of bias.

Iran criticized the European action as both legally unfounded and politically driven.

Tensions over Iran’s nuclear program intensified following Israel’s unexpected attack on Tehran on June 13, which targeted military, nuclear, and civilian sites along with senior military officials and nuclear scientists.

In response, Tehran launched missile and drone strikes, while the US bombed three Iranian nuclear sites.

The 12-day confrontation concluded with a US-brokered ceasefire that came into effect on June 24.

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