In an interview with Mehr News Agency, Hossein Samsami, economist and a member of Iran’s parliament’s Economic Commission, said that the re-imposition of the United Nations sanctions under the snapback mechanism would not affect Iran’s oil sales.
“These sanctions relate to the nuclear and missile sectors and have nothing to do with the economy, including oil and banking,” he said."
He went on to say that, of course, it can reinforce US sanctions and put the country under more pressure, but it still depends on other countries, especially India, Russia, and China, on how they interact with Iran.
Samsami added that what needs to be considered in the current situation is the inflation expectations that arise due to concerns and uncertainty about the effects of the snapback on the Iranian economy.
“The government should, through sound policies and with the support of the media, reduce inflation expectations in society so that the psychological pressure of snapback does not affect our economy,” he said.
“In the short term we must, through sound policymaking, control the inflationary expectations arising from the activation of the snapback mechanism, and then in the medium and long term—by using the capacities of economic pacts such as the Shanghai Cooperation Organization and BRICS and by expanding our economic and commercial relations with the member states of these two pacts—take steps toward neutralizing the effects of Western sanctions.”
MNA