logo
Iran warns Europeans that reimposing sanctions could have irreversible consequences

Iran warns Europeans that reimposing sanctions could have irreversible consequences

Reuters12-05-2025

PARIS, May 12 (Reuters) - Iran's foreign minister warned Britain, France and Germany on Monday that a decision to trigger a U.N. mechanism reimposing sanctions on Tehran could lead to an irreversible escalation of tensions.
Under the terms of a U.N. resolution ratifying a 2015 nuclear pact, the three European powers could reimpose United Nations sanctions against Tehran before October 18, known in diplomatic circles as the "snapback mechanism".
"Iran has made its position clear. We have officially warned all JCPOA (nuclear pact) signatories that abuse of the snapback mechanism will lead to consequences — not only the end of Europe's role in the agreement, but also an escalation of tensions that could become irreversible," Foreign Minister Abbas Araqchi wrote in a column in French weekly magazine Le Point.
U.S. President Donald Trump exited Tehran's 2015 nuclear accord with six world powers in 2018 during his first term and reimposed tough sanctions that have devastated Iran's economy.
The European powers are not part of current negotiations between Iran and the United States, the fourth round of which ended in Oman on Sunday.
But the three powers have sought to coordinate closely with Washington with a view to whether and when they should use the snapback mechanism to raise pressure on Iran.
Talks between the so-called E3 and Iran in Rome earlier in May were postponed. Araqchi said that a meeting between Iran's deputy foreign minister and E3 counterparts had since taken place, describing them as a "promising, but fragile start."
France's foreign ministry declined to comment. The British and German foreign ministries were not immediately available to comment.
According to diplomats and a document seen by Reuters, the E3 countries may trigger a snapback by August if no substantial deal can be found by then. The window closes on October 18.
Relations between the E3 and Iran have worsened over the last year despite sporadic meetings, against a backdrop of new sanctions imposed on Tehran over its ballistic missile programme, its detention of foreign citizens and support for Russia in its war against Ukraine.
Iran, which has long said its nuclear programme is peaceful, has breached the 2015 pact's nuclear curbs since 2019, including "dramatically" accelerating its enrichment of uranium to up to 60% purity, close to the roughly 90% level that is weapons-grade, according to the U.N. nuclear watchdog.
It denies it is seeking nuclear weapons.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

What war in the Middle East means for your money
What war in the Middle East means for your money

Times

time30 minutes ago

  • Times

What war in the Middle East means for your money

The conflict between Israel and Iran is the latest geopolitical shock set to hamper the outlook for the UK economy — and, ultimately, your bank balance. Since the attacks began on June 12, the price of oil has risen to a six-month high. Hopes for interest rate cuts have been dashed, fears of rising inflation have been amplified, and any respite from stock market turmoil appears to have been short-lived. • Read more money advice and tips on investing from our experts This week the prime minister, Sir Keir Starmer, said: 'I'm always concerned about the effect of international issues on people back at home. You saw with Ukraine the direct impact it had on energy bills. Equally, with this conflict, you can see the effect it's having on the economy, particularly on the price of energy.' From petrol prices to pension pots, here's what you need to know: Iran is the third-largest oil producer among the 12 members of the Organisation of the Petroleum Exporting Countries (Opec), and there are worries about how a wider regional war could affect the transport of oil through the Strait of Hormuz, which accounts for about 25 per cent of seaborne crude oil transportation, according to the consultancy Capital Economics. The price of a barrel of Brent crude hit a six-month high of about $78 after Israeli attacks on Iran began, up from about $65 at the start of this month. That is bound to have a knock-on effect on motorists, said David Oxley from Capital Economics: 'A rough rule of thumb is that a $10 rise in the oil price will add about 7p to the price at the pump.' It normally takes about two weeks for oil prices to feed into pump prices, Oxley said. Motorists have, however, had some recent respite from the cost of living crisis as petrol and diesel prices hit their lowest in almost four years. Petrol cost an average of 132p a litre last month, the lowest since July 2021, while diesel was at 138p, the lowest since September 2021, according to the motoring organisation the RAC. While prices are likely to rise, they are not expected to reach the high of March 2022, when Russia's invasion of Ukraine caused the oil price to reach $127 per barrel. The price in sterling peaked in July of that year at more than £100 with pump prices hitting 192p per litre for petrol and 199p per litre for diesel. More than a million homeowners whose fixed deals come to an end this year may have their hopes of further interest rate cuts dashed. The lowest two-year fix was 3.72 per cent last month, but rates are starting to tick up again, according to the property portal Rightmove. The lowest two-year deal is now 3.82 per cent from Lloyds Bank for those with a Club Lloyds account. The lowest five-year fixed rate has gone from 3.78 per cent to 3.88 per cent, also from Lloyds. Lenders had been cutting mortgage rates to compete for business, but changed tack after inflation went from 2.6 per cent for the year to March to 3.5 per cent in April. This makes cuts to the Bank of England base rate less likely — the Bank generally keeps the rate high when inflation is above its target of 2 per cent. The Consumer Prices Index inflation figure for the year to May, released this week, was 3.4 per cent. Uncertainty around President Trump's trade tariffs and conflict in the Middle East has also dampened hopes of further base rate cuts. The Bank held rates at 4.25 per cent this week, which, although a lot higher than the sub 2 per cent rates many mortgage holders will have fixed at three or five years ago, is down from the peak of 5.25 per cent in August last year. Fixed mortgage rates are based on swap rates (the rates at which banks lend to each other, which are in turn based on forecasts of where Bank rate is expected to be in the future), which have edged up over the past week or so, suggesting that mortgage rates could follow. Homeowners who want certainty can lock in a new deal up to six months before theirs ends yet still swap if a cheaper deal comes along. Rising oil prices could also cause other expenses to creep up, particularly if the Iran conflict continues or escalates. Lotanna Emediegwu, an economics lecturer at Manchester Metropolitan University, said that prolonged conflict could drive up energy bills. The price cap that limits how much suppliers can charge customers on standard variable tariffs will work out at an average bill of £1,720 a year for gas and electricity from July 1 (down 7 per cent from today's cap). At the moment analysts expect the cap to go up 2 to 3 per cent in October, but this could change dramatically. He said: 'Until recently, fuel prices had been rising less than other things, so actually mitigating some inflationary pressures. The recent conflict is expected to reverse this trend. 'The financial repercussions extend beyond immediate energy costs into transportation and logistics. Transport expenses are particularly vulnerable to fluctuations in fuel prices. This affects everything from airline fares to shipping costs for products, ultimately hitting consumer prices.' Before June 12, when Israel launched strikes on Iran, inflation had been expected to rise to 3.5 per cent by the autumn — now it could go further. A sustained $10 per barrel rise in the oil price typically pushes up annual inflation by 0.1 to 0.2 percentage points, according to The Economist, meaning that it could be closer to 3.7 per cent by September. Emediegwu said a prolonged blockade of the Strait of Hormuz shipping route could add a further 0.5 to 1 percentage points, which could take it close to 5 per cent. So far the stock market has been fairly resilient to the conflict in the Middle East. The UK's FTSE 100 is down about 0.77 per cent since the turmoil started, while the US's S&P 500 is down about 1.06 per cent. If a sustained conflict leads to an increase in the price of oil, stock valuations may fall — this is because higher oil prices lead to higher inflation, which means interest rates are likely to stay higher for longer, which makes it more expensive for companies to borrow money to grow and often curbs investors' risk appetite. Losers are likely to include airline and travel stocks, as well as so-called growth stocks, which include technology and healthcare companies. Many investors will have exposure to the US 'Magnificent Seven' tech stocks of Microsoft, Apple, Alphabet, Tesla, Amazon, Meta and Nvidia. These companies are often valued on their future earnings potential, which means their stock price can be volatile if company results or wider economic conditions point towards a slowdown of earnings. The good news is that Iran and Israel are a very limited part of the global stock market, so direct exposure for most UK investors will be immaterial. However, Michael Field from the research firm Morningstar said that the risk is that wider markets get jittery about the potential for the conflict to escalate further. Investors should avoid making any kneejerk changes to their portfolio. Ultimately, while geopolitical tensions may create short-term turmoil, historically markets have been resilient in the long term. Jacob Falkencrone from the investment bank Saxo said: 'As an investor, your greatest tool is a disciplined approach — staying informed, remaining calm and focusing on your long-term investment goals rather than reacting impulsively to temporary shocks.'

Pornhub and other adult sites back online in France after three-week protest
Pornhub and other adult sites back online in France after three-week protest

The Guardian

timean hour ago

  • The Guardian

Pornhub and other adult sites back online in France after three-week protest

Major adult websites Pornhub, YouPorn and RedTube were back online in France Friday after a court suspended a decision requiring pornographic platforms based in the European Union to verify users' ages. The three platforms' owner, Aylo, based in Cyprus, had made its websites unavailable in France in early June as a protest against the French decree. Failure to comply could have lead to sanctions including fines or the blocking of the websites. France has gradually introduced requirements this year for all adult websites to have users confirm their age with details such as a credit card or ID document. The aim is to prevent minors from accessing pornography. But the Paris administrative tribunal on Monday suspended a government decree while investigating whether it was compatible with EU legislation. The French government has shared its intention to appeal to the Council of State, the country's highest administrative court. Aylo said the decree's suspension was an 'opportunity to reconsider more efficient approaches' to age verification. The company argued that this was an ineffective mechanism that exposed people's data to bad actors, hacks or leaks. 'Requiring you to repeatedly provide sensitive personal information creates an unacceptable security risk that we refuse to impose on our users,' the company said in a message displayed on the sites' homepages earlier this month. About 40% of children in France access porn sites every month, according to a 2024 study by France's Arcom audiovisual watchdog. In a bid to preserve privacy, the government decree also required operators to offer a third-party 'double-blind' option that would prevent the platforms from seeing users' identifying information. Aylo, which reports seven million visitors in France daily across its various platforms, has called instead for governments to require makers of operating systems such as Apple, Microsoft and Google to verify users' ages at the level of individual devices. Sign up to TechScape A weekly dive in to how technology is shaping our lives after newsletter promotion The platform also argues that the French law 'diverts users to thousands of sites that deliberately circumvent regulations' and fails to moderate videos for issues such as the age and consent of performers. Other countries such as the United Kingdom and Germany also enforce age-related access restrictions to adult websites.

Iran will consider diplomacy when Israeli aggression stops
Iran will consider diplomacy when Israeli aggression stops

BBC News

time2 hours ago

  • BBC News

Iran will consider diplomacy when Israeli aggression stops

Iran has said it will not resume talks over its nuclear programme while under attack, hours after Israel's defence minister warned of "prolonged" conflict against the Islamic of violence continued on Friday, as Iran fired another salvo of missiles at northern Israel, and Israel targeted dozens of sites in Iran. Israel's foreign minister, Eyal Zamir, said in a video address that his country should be ready for "ready for a prolonged campaign" and warned of "difficult days ahead."Iran's foreign minister Abbas Araghchi met with European diplomats in Geneva who urged him to revive diplomatic efforts with the US over Tehran's nuclear programme. But Araghchi said Iran was ready to consider diplomacy only once Israel's "aggression is stopped".He went on to say that Iran's nuclear programme was peaceful, and that Israel's attacks on it are a violation of international law, adding that Iran will continue to "exercise its legitimate right of self-defence"."I make it crystal clear that Iran's defence capabilities are non-negotiable," he said. Israel's ambassador to the UN accused Iran of having a "genocidal agenda" and posed an ongoing threat, adding that Israel would not stop targeting nuclear facilities until they were "dismantled". Trump: Iran doesn't want to speak to Europe Meanwhile, US President Donald Trump said on Friday that Iran had a "maximum" of two weeks to avoid possible US air strikes, suggesting that he could take a decision before the 14-day deadline he set on Thursday."I'm giving them a period of time, and I would say two weeks would be the maximum," Trump told added that the aim was to "see whether or not people come to their senses."The US president was also dismissive of the talks between Araghchi and foreign ministers from Britain, France, Germany and the EU."Iran doesn't want to speak to Europe. They want to speak to us. Europe is not going to be able to help in this," Trump said. UK Foreign Minister David Lammy said that the US had provided "a short window of time" to resolve the crisis in the Middle East, which he said was "perilous and deadly serious". French Foreign Minister Jean-Noel Barrot said "we invited the Iranian minister to consider negotiations with all sides, including the United States, without awaiting the cessation of strikes, which we also hope for".Barrot added that "can be no definitive solution through military means to the Iran nuclear problem" and warned that it was "dangerous to want to impose a regime change" in Iran. As the Geneva talks took place, the exchange of fire between Israel and Iran was hit by a new round of Iranian strikes with the Israeli military reporting an attack of 20 missiles targeting Israeli woman died of a heart attack, bringing the Israeli total since the conflict began to Israel Defense Forces said it attacked ballistic missile storage and launch sites in western the last week, Israeli air strikes have destroyed Iranian military facilities and weapons, and killed senior military commanders and nuclear health ministry said on Sunday that at least 224 people had been killed, but a human rights group put the unofficial death toll at 639 on has launched hundreds of ballistic missiles at Israel in response to the air strikes.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store