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Iran's Foreign Minister Abbas Araghchi proposed restoring nuclear inspector access to bombed facilities in exchange for sanctions relief during UN meetings, signaling economic distress as inflation nears 90 percent and the rial weakens significantly.
Iran’s foreign minister suggested in private talks that his country was willing to restore nuclear inspectors’ access to bombed facilities in exchange for sanctions relief, people familiar with the discussions said, a concession that could help break deadlocked peace talks with the US.
Foreign Minister Abbas Araghchi raised the idea in meetings at the United Nations with European and Middle Eastern diplomats while he was in New York for the annual General Assembly, which ended earlier this week, according to the diplomats, who asked not to be identified discussing private deliberations. He gave little away about the state of Iran’s economy as a result of both sanctions and the US naval blockade outside the Strait of Hormuz that has choked off its oil exports.
But his suggestion to counterparts that Iran would grant nuclear inspectors access in exchange for sanctions relief signals the extent of the country’s economic pain, according to the diplomats. Inflation in Iran is now almost 90 per cent year over year, and the rial has weakened 30 per cent against the US dollar as sanctions begin to bite.
Araghchi also pressed Europeans to reverse a UN decision from last year to re-impose broad sanctions on Iran, a particular sore spot for Iran and a step European officials have refused to take, four of the people said. The so-called sanctions “snapback” was set in motion last September. Iranian President Masoud Pezeshkian told CBS’s “Face the Nation” last week that his country was willing to allow inspectors back in.
“That is absolutely correct,” he said. It wasn’t previously known that Araghchi had brought up the idea during his stay in New York, which lasted several days.
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