Tehran: President Masoud Pezeshkian has accused Western nations of using the “snapback” mechanism as a strategic move to restrict Iran’s oil exports and impede its trade operations. He articulated these concerns during a recent meeting with members of the Iran Chamber of Commerce.

According to Islamic Republic News Agency, Pezeshkian emphasized that the snapback mechanism is being deployed as an instrument to constrain Iran’s economic pursuits, particularly focusing on the country’s oil sales and international trade. He highlighted the necessity of leveraging Iran’s extensive energy resources to expedite national development.

Pezeshkian further stressed the significance of supporting exporters by pledging his administration’s resolve to address their challenges and foster a conducive environment for export growth. He noted that an increase in exports signifies a reduced reliance on oil, thereby contributing to enhanced employment opportunities.

The reactivation of the snapback mechanism by France, Germany, and Britain, collectively known as the E3, took place on August 28. This move was intended to reinstate the United Nations Security Council sanctions against Iran, originally part of the 2015 nuclear deal. Iran, however, maintains that this action is legally invalid, arguing that the agreement and the corresponding UN resolution expired on October 18.