Iran urges creation of int’l compensation fund for victims of sanctions

یکشنبه, 23 فروردین,1405 08:22 ق.ظ
Iran urges creation of int’l compensation fund for victims of sanctions
Ambassador and Permanent Representative of the Islamic Republic of Iran to the United Nations Office in Geneva Ali Bahreini

London, IRNA – Iran’s Ambassador and Permanent Representative to the United Nations office in Geneva, Ali Bahreini, has called for the establishment of an international compensation fund to address losses suffered by governments and populations during unilateral sanctions.

Speaking at the Second International Conference on Unilateral Coercive Measures (UCMs), in Geneva on Thursday, Bahreini condemned unilateral sanctions measure of some countries, calling it a tool of pressure and destabilization.

He stressed the need for practical measures by the world body to create a compensation mechanism, emphasizing that such a framework must obligate sanction‑imposing states to pay reparations to affected countries.

Bahreini also highlighted the importance of developing independent banking systems, expanding the use of national currencies, and strengthening regional economic cooperation to safeguard critical infrastructure from sanctions‑related disruptions.

Describing unilateral sanctions as facilitators of aggression and instruments to weaken states ahead of potential hostile actions, he termed them as “economic terrorism” and the first step in an inhumane strategy.

The senior diplomat noted that Iran’s resilience, through domestic capabilities and scientific advances, has undermined the logic of sanctions, insecurity, and war.

Bahreini further criticized humanitarian exemptions as legal theatrics, arguing that fear of secondary sanctions renders them ineffective.

The conference, attended by representatives from Cuba, Venezuela, Iran, China, Zimbabwe, Russia, Eritrea, Brazil, legal experts, UN rapporteurs, and NGOs, examined the human, legal, and political impacts of unilateral sanctions.

Several delegations called for binding legal tools to determine accountability not only for sanctioning states but also for financial institutions that enforce such measures. Participants also voiced concern over the growing resort to military force when sanctions fail to achieve political objectives.