UN Security Council fails to adopt US-backed Iran sanctions resolution after Russia and China vetoes

Russia and China have vetoed a United Nations resolution that would have allowed independent experts to continue monitoring sanctions reimposed on Iran over its nuclear programme, dealing a blow to international oversight efforts.

The United States had drafted the resolution to extend the UN expert panel's mandate for a year. It was defeated on Thursday at the UN Security Council by a vote of 11-2, with Somalia and Pakistan abstaining.

The UN Security Council sanctions, which were reimposed on 27 September last year under the snapback mechanism of the 2015 nuclear deal, remain in effect. They freeze Iranian assets abroad, restrict arms deals with Tehran and penalise the development of its ballistic missile programme.

France, Germany and the United Kingdom triggered the snapback provision, which restored the Security Council sanctions committee and authorised the panel of experts to monitor compliance. Thursday's veto removes that oversight without lifting the underlying sanctions.

The vote comes as the Trump administration pursues a broader campaign to isolate Tehran economically. Separately on Thursday, Washington moved against digital currency networks it says are being used to give sanctioned Iranian entities illegal access to the international financial system.

The moves also come amid a more than six-month-old war in Iran that has reached a stalemate.

The US Treasury and State Departments announced that they had targeted two companies — BitBank and the Pishtaz Simorgh Electronic Trade Co. — and three associates of BitBank’s previously sanctioned chief, Babak Zanjani, who are accused of playing a role in helping Iran evade sanctions.

At the United Nations, Iran’s UN mission thanked China and Russia for vetoing the US resolution, saying on social media that the countries “prevented yet another cynical attempt by the United States and its allies to abuse the Security Council for their political purposes.”