The Internet can be a wonderful tool for informing citizens. I frequently read all or parts of the actual text of important laws, court decisions, transcripts, etc., instead of relying solely upon what advocates for and against policies tell me the document says.
I have been reading the text of the IRAN Nuclear Deal, which is officially known as the "Joint Comprehensive Plan of Action," or more simply JCPOA.
You can find the full text of the JCPOA as a PDF at http://justsecurity.org/...
One of the critical items in any important agreement is what happens when a party violates the agreement. The "what happens" in the event of violation of the Iran Nuclear Deal, has been given the popularized name of "Snap-Back Provision" or "Snap-Back". The Snap-Back is far less than what the name implies from an honest reading of the JCPOA.
When I heard the term Snap-Back of the sanctions, I thought the Snap-Back meant the full force of sanctions to the degree they exist today would be restored. In other words, the economic sanctions would snap-back fully to where they are today - that is far from the case.
Snap Back as described in Article 37 of the JCPOA, means whatever contracts Iran had already entered into prior to the "Snap Back" could continue as normal indefinitely after the "snap-Back", the "Snap-Back" only blocks new contracts that Iran would otherwise enter into after a Snap Back.
The exact relevant text in the JCPOA (part of Article 37) is here, I have highlighted the key parts.
In such event, these provisions would not apply with retroactive effect to contracts signed between any party and Iran or Iranian individuals and entities prior to the date of application, provided that the activities contemplated under and execution of such contracts are consistent with this JCPOA and the previous and current UN Security Council resolutions.
See below for the full text of Article 37, so the above is read in context.
This means that Iran can enter into long term contracts with Russian, Chinese, Halliburton, or Goldman Sachs, etc., for the sale of Iranian oil that would continue uninterrupted if the "Snap Back" went into effect. Similarly, long term contracts for the import of everything and anything Iran may want (that is not in violation of JCPOA) would continue without impact In essence, Iran can largely or completely neuter the impact of Snap Back by simply entering into broad long term agreements in advance of a Snap Back. A more accurate description of this term is really "No New Contracts, Old Contracts are OK".
I encourage DKos members with strong expertise in contracts, and especially treaties to comment on their understanding of what Article 37 means regarding what scansions would be reimposed on Iran under Article 37, if Iran violated the deal.
Here is the full text of Article 37 of the JCPOA, which is the “Snap-Back” mechanism:
37. Upon receipt of the notification from the complaining participant, as described above, including a description of the good-faith efforts the participant made to exhaust the dispute resolution process specified in this JCPOA, the UN Security Council, in accordance with its procedures, shall vote on a resolution to continue the sanctions lifting. If the resolution described above has not been adopted within 30 days of the notification, then the provisions of the old UN Security Council resolutions would be re-imposed, unless the UN Security Council decides otherwise. In such event, these provisions would not apply with retroactive effect to contracts signed between any party and Iran or Iranian individuals and entities prior to the date of application, provided that the activities contemplated under and execution of such contracts are consistent with this JCPOA and the previous and current UN Security Council resolutions. The UN Security Council, expressing its intention to prevent the reapplication of the provisions if the issue giving rise to the notification is resolved within this period, intends to take into account the views of the States involved in the issue and any opinion on the issue of the Advisory Board. Iran has stated that if sanctions are reinstated in whole or in part, Iran will treat that as grounds to cease performing its commitments under this JCPOA in whole or in part.