Tehran, Iran – After about a decade, Iran is once more subject to United Nations sanctions as the West piles pressure on Tehran, despite opposition from Russia and China.The sanctions were automatically reinstated at midnight GMT on Sunday after the European signatories of Iran’s 2015 nuclear deal invoked the “snapback” mechanism of the landmark accord to reactivate them.Recommended Stories list of 3 itemsend of listThey include an arms embargo, asset freezes and travel bans, and nuclear, missile and banking sanctions that are expected to impact all sectors of the beleaguered Iranian economy, as most of over 90 million people pay the price over the coming months.The sanctions are binding for all member states, to be enforced using nonmilitary measures.Iran’s turbulent regional situation has some fearing more military strikes by Israel and the United States, who perpetrated 12 days of attacks on the country in June that killed more than 1,000 people and caused billions of dollars in damage.Some Iranians are concerned that Israel would use the sanctions an excuse to attack again, as it used the resolution issued by the global nuclear watchdog in June as a pretext for a war that was cheered by Israeli officials and the public alike.Nervous markets, worried peopleOn Sunday, market reactions showed economic anxiety over Iran’s increasing isolation due to the sanctions.The Iranian rial traded at about 1.3 million per US dollar in Tehran’s open currency market on the second day of the working week, but activity was very limited amid fluctuations. Advertisement This marked an all-time low for the rial, which has dropped from 1.06 million per …
