Sanctions snapback impossible: Minister of Economy

Minister of Economic Affairs and Finance Ali Tayyebnia says the US-led sanctions, lifted under Iran’s nuclear deal six world powers, could not be reimposed on the country.

Speaking at a conference on insurance industry development in Tehran, Tayyebnia described the sanctions as "irreversible", reiterating that “the wall of anti-Iran sanctions has already collapsed”, with major foreign companies entering the country’s lucrative market, Press TV reported.

The Iranian minister also described the Joint Comprehensive Plan of Action (JCPOA) as an international agreement which “cannot be violated”.

“Any country seeking to violate its commitments (under the JCPOA) will lose its standing and will be internationally isolated,” he was quoted as saying by IRNA news agency on Saturday.

The official said Tehran has fully implemented its commitments in this regard and it is expected that other sides would comply with their obligations under the JCPOA.

Tayyebnia’s comments came shortly after the US Senate unanimously approved a 10-year extension of an anti-Iran legislation.

SS