Snapback Seen as Major Challenge for Iranian Oil Equipment Manufacturers

published:08/10/2025 04:46 GMT

The chairman of the Iranian Association of Oil Industry Equipment Manufacturers has warned that the reactivation of the UN “snapback mechanism” could significantly disrupt the country’s economic activities, particularly in the oil and gas sector, potentially creating harsher conditions than those faced before the 2015 nuclear deal (JCPOA). Speaking at a press conference in Tehran, Ehsan Saqafi highlighted the central role of domestically produced equipment in sustaining Iran’s oil industry....More