France, Germany and the UK have informed the United Nations they are prepared to reinstate sanctions on Iran if it fails to re-engage in nuclear negotiations, the Financial Times reported on Tuesday.
In a letter to the UN, the foreign ministers of the so-called E3 warned they would trigger the “snapback” mechanism unless Tehran takes action:
- “If Iran is not willing to reach a diplomatic solution before the end of August 2025, or does not seize the opportunity of an extension, the E3 are prepared to trigger the snapback mechanism,” the ministers wrote, according to the report.
The warning follows “serious, frank and detailed” talks in Istanbul last month — the first face-to-face discussions since Israeli and US strikes on Iranian nuclear sites. Governments in London, Paris and Berlin did not immediately respond to Reuters’ requests for comment.
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I popped in a Brent update chart, not showing much response at all. An escalation of tensions in the Middle East is generally associated with a tailwind for oil.
This article was written by Eamonn Sheridan at investinglive.com.