France, Germany and Britain announced the start of the activation of the “Snap Back” mechanism to re -impose international sanctions on Iran, after the recent conflict with Israel, and the strikes that followed targeting Iranian nuclear facilities.
Freezing assets and armament ban
The mechanism will lead to the freezing of Iranian assets abroad, the cessation of arms deals, and the imposition of restrictions on the development of the ballistic missile program, which will increase pressure on the deteriorating Iranian economy.
30 days of diplomacy
Activating the mechanism opens a period of 30 days before the return of the sanctions, as the foreign ministers of European countries stressed that the goal is to stimulate negotiations with Tehran, stressing that the door is still open to diplomatic solutions.
Iranian rejected and warnings of the response
Iranian Foreign Minister Abbas Araqji described the move as “illegal and lacks any legal basis”, warning of an “appropriate Iranian response.” While the Iranian Foreign Ministry stressed that the Europeans “violated their obligations” by the nuclear agreement.
International differences on the legitimacy of the step
Russia and China considered that the European move is “legally invalid”, and accused Paris, London and Berlin of violating the nuclear agreement. They also submitted a draft resolution for the Security Council to propose to extend the work of the nuclear agreement as an alternative option.
The collapse of the Iranian currency and risk escalating
In conjunction with this, the Iranian riyal recorded an unprecedented collapse to exceed one million against one dollar, which reflects the depth of the economic crisis. The risk of escalation remains with the approaching date of the expiration of the “Snapback” mechanism.
UN invitations to calm down
The Secretary -General of the United Nations, Antonio Guterres, called on all parties to exploit the limited time window within 30 days to find a diplomatic solution that guarantees the peaceful nuclear program and prevents the outbreak of a new military confrontation.
