The president of Iran Chamber of Commerce said on Sunday that the reactivation of the “snapback” sanctions would not significantly alter the country’s business environment, despite the challenges it may bring.
“Although the new sanctions bring difficulties and damages, findings show that the impact of activating the snapback mechanism is not as extensive as it is being promoted,” said Samad Hassanzadeh during a meeting of the chamber’s board of representatives.
He added that Iran’s business landscape has already been shaped by years of heavy restrictions. “We believe that the reality in Iran’s business environment has not and will not change significantly with the activation of the snapback, because our country has long been engaged in an unequal economic war and has gained valuable experience in managing tough and complex conditions.”
Hassanzadeh noted that unilateral US sanctions had imposed far more severe restrictions than the snapback mechanism. “While the scale and number of unilateral US sanctions are much greater than those from the snapback, the private sector has consistently ensured that production continues through its capability and valuable management,” he said.