WANA (Sep 29) – Iran’s Deputy Foreign Minister for Economic Diplomacy rejected claims that the country’s Central Bank assets have been frozen, stressing that Iranian banks had anticipated the European Union’s renewed sanctions. He explained that the accounts targeted either had no funds or only a minimum balance to prevent closure.

 

Earlier on Monday, September 29, 2025, the European Union announced the reimposition of sanctions on Iran under the “snapback” mechanism. The EU statement said the measures cover sanctions originally imposed under successive UN Security Council resolutions since 2006, along with additional EU-specific restrictions.

 

Deputy Minister Hamid Ghanbari outlined the scope of the renewed sanctions: “The EU maintained different types of sanctions on Iran, including human rights and military-related measures, which were not tied to the nuclear issue. The nuclear sanctions were mostly those aligned with UN Security Council actions since 2006. What has now returned are essentially those same sanctions, although at times they were broader in scope.”

Araghchi at the UN Security Council session. Social media /WANA News Agency

Araghchi at the UN Security Council session. Social media /WANA News Agency

On the issue of banking, he clarified: “No significant assets have been frozen. These accounts were already inactive and have now only been formally listed under the new sanctions.”

 

Speaking on restrictions against Iran’s aviation sector, Ghanbari noted: “We have consistently taken measures to mitigate the impact of sanctions. This is nothing new; over the years, precautionary steps have always been in place.”

 

Addressing potential legal action, he added: “Any judicial response depends on a sovereign decision about the appropriate venue and level of complaint. In the past, some EU sanctions were overturned in European courts, while others were not pursued due to their political nature or lack of practical benefit. The current response will also depend on the assessment of circumstances.”

 

Ghanbari stressed that the EU’s move will not drastically alter Iran’s economy: “For years, European companies have complied with U.S. sanctions. Since Washington’s withdrawal from the JCPOA and the reimposition of American measures, Europe’s trade with Iran has already shrunk to a historic low. Therefore, no major new effects should be expected.”

 

He concluded: “Sanctions should not be dismissed, but neither should their impact be exaggerated. What matters most is conveying the reality of events to the public with honesty and transparency.”