UN Sanctions on Iran to Snap Back by September 27 Amid Failed Negotiations

French President Emmanuel Macron confirmed the imminent return of UN sanctions on Iran by September 27, citing Tehran's lack of seriousness in recent negotiations. Iranian Foreign Minister Abbas Araghchi's proposal to European leaders failed to gain internal consensus, leaving diplomatic efforts in deadlock.

Britain, Germany, and France triggered the snapback mechanism on August 28 under UN Resolution 2231, demanding Iran comply with nuclear inspections and account for missing uranium stockpiles. A last-minute draft resolution to extend sanctions suspension appears unlikely to pass at the Security Council.

Oil markets remained indifferent to the geopolitical tensions, with Brent crude holding at $67.43 and WTI at $63.53. Both benchmarks extended gains despite the Fed's rate cut, reflecting broader market dynamics overshadowing Middle East volatility.