Old sanctions, new risks: Iran’s economy hampered by war fallout, China reliance
Europe’s move to revive UN sanctions against Iran comes amid growing economic strain for a country already buckling under war damage, domestic crises and a plunging currency.
Iran’s economy, battered by bombs and mounting domestic crises, could soon face a new shock. On Aug. 28, Britain, France and Germany triggered a 30-day process to reimpose UN-mandated sanctions on Iran, citing a "significant" breach of the 2015 nuclear deal.
If implemented, the so-called snapback sanctions would reinstate broad restrictions lifted under the landmark accord: an arms embargo, bans on uranium enrichment, limits on missile development, asset freezes, and travel bans, among other measures.
For Iran, sanctions are hardly new. The Islamic Republic is one of the world’s most heavily sanctioned economies, but Tehran’s ability to blunt the sanctions' impact is set to be tested amid fallout from the 12-day war with Israel in June. Already under extensive US sanctions, Iran now faces further challenges — from public unrest and sky-high inflation to major water and energy shortages — as new restrictions loom.
Experts told Al-Monitor that Iran is far more vulnerable today to UN sanctions than in years past.
