Given the high managerial and executive capabilities of the country's shipping fleet, there will be no disruption to Iran's import and export activities, Polemeh told reporters on Tuesday.
Considering the sanctions imposed on Iran in recent years, the activation of the snapback mechanism cannot have an exacerbating impact of more than 30%.
Currently, the fleet under the flag of the Islamic Republic of Iran does not benefit from foreign insurance services, foreign purchases, or foreign currency exchanges, and our fleet can only dock at some ports, he added.
On August 28, Britain, France, and Germany – collectively known as the European Troika or E3 – officially sent a notification to the UN Security Council to activate the ‘snapback mechanism’ for the return of anti-Iranian sanctions.
The troika's action prompted condemnations, with Russia urging the international community to reject it, while China warned that the sanctions move is "counterproductive."
Iran also decried the move, with Foreign Minister Abbas Araghchi, in a call with his European counterparts, describing it as “unjustified” and “lacking any legal basis.”
IRNA