While Iran said it plans no “buying spree,” it can now in theory purchase weapons to upgrade military armaments dating back to before its 1979 Islamic Revolution and sell its own locally produced gear abroad.
In practice, however, Iran’s economy remains crippled by broad-reaching US sanctions, and other nations may avoid arms deals with Tehran for fear of American financial retaliation. The Trump administration has warned that any sales of weapons to Iran or exports from Iran would be penalized.
The Islamic Republic heralded the end of the arms embargo as “a momentous day for the international community ... in defiance of the US regime’s effort.”
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October 20, 2020