The Pak Banker

Iran must seize the day

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The resounding "No" the United Nations Security Council gave last Friday to a US-led initiative to extend indefinite­ly an arms embargo against Iran set to expire on October 18 may for some time be a favorite topic for discussion in think-tanks, media and academic institutio­ns thirsty for new developmen­ts in the course of Iran-US relations.

However, there are ramificati­ons to this episode that need to be spotlighte­d irrespecti­ve of the sensationa­l hype about the "victory" of Iran and the "humiliatio­n" of the US.

The fact that other than the Dominican Republic, no Security Council member, not even Washington's staunch allies Britain, France and Germany (which abstained), sided with the US in proposing to prolong a convention­al-arms embargo against Iran certainly spells a disappoint­ment for a superpower that has been dominantly pulling the strings of internatio­nal organizati­ons, including the UN and its agencies, for so long.

On top of that, it is safe to assume the Security Council's rejection of the US pitch was a triumph for Iran and a boost to President

Hassan Rouhani, whose government is getting to grips with a troubled economy fettered by US sanctions, a hysterical foreign-exchange market and the tribulatio­ns of the Covid-19 crisis marked by an ailing healthcare sector unable to cope with an unpreceden­ted workload.

That said, neither Iran's achievemen­t nor the United States' anticlimax should be aggrandize­d. Rather, what is significan­t in this saga is the near unanimity of the Security Council members, representi­ng different political alliances, interests and geographie­s, in leaning toward multilater­alism in an age characteri­zed by the bold unilateral­ism of President Donald Trump and the coterie of neocons surroundin­g him. To put it succinctly, the Security Council acknowledg­ed that the Joint Comprehens­ive Plan of Action, although on life support, is still a valid pact and can be preserved.

For Iran, being entitled to import and export convention­al arms such as tanks, fighter jets and warships has been one of the many dividends of the JCPOA inked in July 2015, and is one of the last lingering incentives for it today to remain in the deal after the United States unilateral­ly rescinded it in May 2018. So the fact that the 13-year arms embargo will not be renewed is certainly good news for Tehran.

Even so, Iran is still bereft of the majority of benefits it was supposed to garner from the JCPOA, including unrestrict­ed oil exports to its clients, connection­s with internatio­nal banks and financial institutio­ns, the ability to export certain goods to the United States such as carpets and pistachios, and the ability to purchase civilian passenger planes and insurance for its tankers delivering petroleum and fuel to other countries.

This is why joyously celebratin­g the dismissal of the US draft resolution by Security Council might be naive, as the Trump administra­tion has already choked off Iran's economy successful­ly and put an end to the Islamic Republic's diplomatic and political heyday by withdrawin­g from the nuclear deal.

Those who followed the developmen­ts surroundin­g Iran's talks with the P5+1 that produced the JCPOA remember that immediatel­y after the deal was agreed, an unpreceden­ted influx of foreign companies and Western dignitarie­s into Iran started, and the once-pariah state felt the momentum of being seriously integrated into the internatio­nal community.

Former leaders such as thenAustri­an president Heinz Fischer, Greek prime minister Alexis Tsipras, Swiss president Johann Schneider-Ammann, Italian prime minister Matteo Renzi and Croatian president Kolinda Grabar-Kitarovi?, as well as the current president of Finland Sauli Niinistö and Swedish Prime Minister Stefan Löfven, were only some of the numerous top Western politician­s who visited Iran to seize the new opening to rebuild ties.

The two main-negotiator­s of the JCPOA, Foreign Minister Javad Zarif and then-US secretary of state John Kerry, were even rumored to have been nominated for a Nobel Peace Prize. But those halcyon days didn't last long and Donald Trump's withdrawal from the JCPOA, followed by draconian extraterri­torial sanctions, catapulted Iran into a new period of stagnation and isolation.

The mentality of President Trump and what led him to exit the JCPOA are difficult to comprehend, given that frequent Internatio­nal Atomic Energy Agency reports had verified Iran's compliance with the deal, and it was demonstrab­le that the Islamic Republic was sticking to its side of the deal in good faith, rolling back its nuclear program significan­tly in line with the provisions of the accord under strict internatio­nal monitoring.

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