Iran appreciates UN arms embargo waiver as 'momentous day' | The Business Standard
Skip to main content
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • Subscribe
    • Epaper
    • GOVT. Ad
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
The Business Standard

Saturday
July 12, 2025

Sign In
Subscribe
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • Subscribe
    • Epaper
    • GOVT. Ad
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
SATURDAY, JULY 12, 2025
Iran appreciates UN arms embargo waiver as 'momentous day'

World+Biz

TBS Report
18 October, 2020, 08:55 pm
Last modified: 18 October, 2020, 09:07 pm

Related News

  • Iran's missile strike in Qatar damaged US communications dome: satellite images
  • Israel will strike Iran again if threatened, defence minister says
  • Saudi crown prince meets Iranian foreign minister in Jeddah
  • 32 more Bangladeshis repatriated from Iran amid ongoing conflict
  • Iran's president says Tehran open to dialogue with US, accuses Israel of assassination attempt

Iran appreciates UN arms embargo waiver as 'momentous day'

Russia and China are the two countries now most likely to offer arms to Tehran, making Iran less dependent on its own weapons industry – and smuggling

TBS Report
18 October, 2020, 08:55 pm
Last modified: 18 October, 2020, 09:07 pm
 An Iranian-made missile is fired during war games in June. Photograph: Wana News Agency/Reuters
An Iranian-made missile is fired during war games in June. Photograph: Wana News Agency/Reuters

Iranian officials have hailed the UN step of lifting a 13-year old arms embargo on their military as a momentous day. The waiver will enble Iran to buy and sell conventional weapons in an effort to strengthen their country's security.

On Sunday morning, the United Nations lifted the embargo in line with the five-year timetable set out in the Iran nuclear deal, which was signed in 2015. Although, the United States opposed the move, report The Guardian. 

Russia and China are the two countries now most likely to offer arms to Tehran, making Iran less dependent on its own weapons industry – and smuggling.

The Business Standard Google News Keep updated, follow The Business Standard's Google news channel

But Iran's parlous financial state, and the continued threat of US sanctions on anyone trading with the country, means Tehran is unlikely to go on a short-term buying spree, or reach anything like the defence spending levels of its chief Gulf rivals Saudi Arabia and the United Arab Emirates.

The Iranian foreign ministry said: "As of today, all restrictions on the transfer of arms, related activities and financial services to and from the Islamic Republic of Iran … are all automatically terminated."

The foreign minister described the day as momentous and put the event in a diplomatic as much as a military context. "Today's normalisation of Iran's defence cooperation with the world is a win for the cause of multilateralism and peace and security in our region," said Javad Zarif.

However, the defence ministry said "unconventional arms, weapons of mass destruction and a buying spree of conventional arms" had no place in the country's defence doctrine.

The European Union and the UK are to maintain a separate arms embargo on Iran despite the lifting of the UN one.

In the summer, France, Germany and the UK rejected US efforts to impose a snapback of all UN sanctions on Iran, fearing Tehran would pull out altogether from the joint comprehensive plan of action (JCPOA), the official name for the 2015 deal. The three European powers believe the JCPOA is still holding Iran back from becoming a military nuclear power, the deal's primary purpose.

The JCPOA included clauses that stipulated the lifting of the UN arms embargo five years after being signed on 15 October 2015. The European powers had hoped to negotiate a voluntary 18-month extension of the embargo, but were unable to persuade Russia and China to back the move at the UN security council.

The three European powers will now rely on an EU embargo, which was first introduced in 2007, and is set to continue until 2023. The embargo covers conventional weapons and missile technology.

But the US claims that by rejecting the reimposition of all UN sanctions, the EU has enabled the arming of Iranian terrorists. In a sign of the strain being placed on transatlantic relations, the US secretary of state, Mike Pompeo, said in June that the European powers were putting the capitals of Europe in the cross hairs of Tehran.

Separate embargoes block Iranian sales to Lebanon, Yemen and Syria.

In theory Iran will now be free to purchase tanks, armoured combat vehicles and high-calibre artillery systems, warplanes and naval vessels without the need for further UN approval.

Iran has always been free to purchase purely defensive weapons, including, if it wished, the Russian-made S-400 air defence system. There are signs that Russia is anxious not only about sharing sensitive defence technology with Iran, but angering other Middle East customers such as the UAE.

Iran's defence spending last year was about $18.4bn (£14.2bn), roughly 3.5% of the country's GDP, although the precise value is contested. However, the Iranian economy has been hit recently by both Covid-19 and pressure from Washington on Tehran and those who seek to trade with Iran. The bulk of the defence spending is by the Revolutionary Guards, and Iran's core military strength derives from a mix of proxy militias, cyber warfare, ballistic missiles and a large defensive army.

Defence experts predict that instead of buying large numbers of tanks or prohibitively expensive fighter jets, Iran is more likely to purchase small numbers of advanced weapons systems and attempt to transfer the technology domestically.

In 2019, Saudi Arabia spent almost $80bn on defence, the same as Iran spent over the previous four years combined, according to the London-based International Institute for Strategic Studies.

Top News

Iran / UN / Embargo

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Bangladesh and US hold tariff talks on 11 July 2025. Photo: CA Press Wing
    Dhaka, Washington yet to agree on 20% of US tariff conditions: BGMEA
  • Trump's tariff: 25-30% of exports to US could be jeopardised, BKMEA president warns 
    Trump's tariff: 25-30% of exports to US could be jeopardised, BKMEA president warns 
  • Former IGP Mamun being presented in front of the International Crimes Tribunal on 20 November 2024. Photo: Collected
    Clemency for ex-IGP Mamun conditional on full disclosure of July-August atrocities: ICT

MOST VIEWED

  • Representational image
    In addition to 35% tariff, US demands 40% local value addition for 'Made in Bangladesh' goods
  • Screengrab blurred
    Killers bash in head of man with rock, stomp body with perverse pleasure
  • How tender rules and a lone bidder stall a $2.5b power plant
    How tender rules and a lone bidder stall a $2.5b power plant
  • Economist Abul Barkat; Photo: Courtesy
    Economist Abul Barkat arrested in graft case
  • Photo: UNB
    WHO's Saima Wazed Putul 'placed on indefinite leave' amid corruption allegations: Health Policy Watch
  • After India's visa restriction, China's Kunming is drawing Bangladeshi patients
    After India's visa restriction, China's Kunming is drawing Bangladeshi patients

Related News

  • Iran's missile strike in Qatar damaged US communications dome: satellite images
  • Israel will strike Iran again if threatened, defence minister says
  • Saudi crown prince meets Iranian foreign minister in Jeddah
  • 32 more Bangladeshis repatriated from Iran amid ongoing conflict
  • Iran's president says Tehran open to dialogue with US, accuses Israel of assassination attempt

Features

The showroom was launched through a lavish event held there, and in attendance were DHS Motors’ Managing Director Nafees Khundker, CEO Imran Zaman Khan, and GMs Arman Rashid and Farhan Samad. PHOTO: Akif Hamid

GAC inaugurate flagship showroom in Dhaka

16m | Wheels
After India's visa restriction, China's Kunming is drawing Bangladeshi patients

After India's visa restriction, China's Kunming is drawing Bangladeshi patients

21h | Panorama
Photo: Collected/BBC

What Hitler’s tariff policy misfire can teach the modern world

1d | The Big Picture
Illustration: TBS

Behind closed doors: Why women in Bangladesh stay in abusive marriages

1d | Panorama

More Videos from TBS

Air India crash: What happened before the plane crashed?

Air India crash: What happened before the plane crashed?

1h | TBS World
Home Affairs Advisor calls on everyone to come forward and stop violence

Home Affairs Advisor calls on everyone to come forward and stop violence

2h | TBS Today
More than a thousand layoffs at once in US government agencies

More than a thousand layoffs at once in US government agencies

3h | TBS World
US demands 40% local value addition for `Made in Bangladesh’ goods

US demands 40% local value addition for `Made in Bangladesh’ goods

26m | TBS Insight
EMAIL US
contact@tbsnews.net
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Advertisement
  • Privacy Policy
  • Comment Policy
Copyright © 2025
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net