Fall of the Regime?
Global Sanctions Hit Iran Again, Burying the 2015 Nuclear Pact
UN restrictions reimposed despite Russian and Chinese objections, deepening Iran’s economic crisis and regional isolation
International sanctions on Iran were formally reinstated overnight, marking the final collapse of the 2015 nuclear agreement.
The move, triggered by the “snapback” mechanism, restores sweeping United Nations restrictions on Tehran’s weapons and nuclear programs, despite last-minute efforts by Russia and China to block it. The sanctions prohibit Iran from enriching uranium, developing reprocessing facilities, and pursuing ballistic missile programs capable of carrying nuclear warheads. They also reimpose a global arms embargo, travel bans on senior Iranian officials, and asset freezes on dozens of individuals and entities tied to the regime.
The economic impact was immediate. Iran’s currency, the rial, plunged to a record low of 1,123,000 to the U.S. dollar. Shops and markets in Tehran reported further price spikes as Iranians braced for more hardship.
President Masoud Pezeshkian, returning from the UN General Assembly in New York, attempted to downplay the development. “It’s not that the sky is falling,” he told reporters. He said Iran had rejected a U.S. offer to delay sanctions by three months in exchange for transferring its enriched uranium stockpile abroad. “Why would we put a noose around our neck every month?” he asked.
Russia and China, both original signatories to the nuclear deal, denounced the sanctions as “illegal” and signaled they may not comply. Just days earlier, Moscow announced a new deal to help Tehran build additional nuclear power plants.
European powers, Britain, France, and Germany, pushed the snapback forward after accusing Iran of repeatedly violating the accord.
They had offered to delay sanctions for up to six months if Iran restored access for UN inspectors and resumed talks with Washington. Tehran refused. Foreign Minister Abbas Araghchi insisted Iran had made “multiple proposals” to keep diplomacy alive but accused Europe of failing to reciprocate while the U.S. escalated its demands. Despite fiery warnings from hardliners, Pezeshkian stressed Iran would not withdraw from the Nuclear Non-Proliferation Treaty (NPT). However, Iran recalled its ambassadors from London, Paris, and Berlin for consultations.
The sanctions mark a new low point for Iran’s battered economy and set the stage for heightened tensions, barely three months after Israel and the United States struck Iranian nuclear facilities.