Snapback mechanism will not disrupt Iran's trade: Official
Secretary-General of the Shipping Association of Iran Masoud Polemeh says a recent move by European powers to trigger the so-called snapback mechanism against Iran will not disrupt the country's import and export activities.
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.