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✅Iran Turns to BRICS Cryptos to Bypass Sanctions

📍 Why Iran Wants Crypto Trade
✅ Iran faces long-standing U.S. and U.N. sanctions and is cut off from SWIFT.
✅ August 2025: France, UK, Germany re-activated the snapback mechanism, tightening sanctions again.
✅ Iranian government sees cryptocurrencies as a way to pay for trade with BRICS, including India, without using the U.S. dollar.

📍 Iran’s Argument
✅ Cryptos enable independent trade, reduce reliance on the dollar, and support regional integration.
✅ Iran wants to become a blockchain tech hub, promoting crypto payments for cross-border business.

📍 India’s Stand
✅ MEA clarified: “De-dollarisation is not part of India’s financial agenda.”
✅ India maintains caution due to risks of crypto misuse, money laundering and regulatory ambiguity.

📍 Challenges Inside Iran
✅ No transparent regulatory framework for blockchain/crypto.
✅ Govt blocks some crypto conversion gateways, causing trust issues.
✅ Crypto mining is allowed, but concerns exist over energy use and regulation.
✅ IR’s IT industry says blockchain is needed for trust & transparency in contracts and commerce.

📍 Broader Geopolitical Context
✅ Iran wants BRICS to help it move away from the dollar and ease sanctions pressures.
✅ U.S. warns countries against any BRICS currency or crypto-based bypass systems.
✅ Iran argues digital currencies are a “necessity” under sanctions.

📍 Conclusion
✅ Despite enthusiasm, Iran lacks regulatory clarity and international trust.
✅ Crypto-based trade may provide temporary relief, but risks, legal gaps and global scrutiny remain major obstacles.

#International_relations

✅Civil Liability for Nuclear Damage Act, 2010 (CLND Act)
📍 Purpose & Background
✅ Enacted to ensure civil liability, compensation, and relief for victims of nuclear accidents.
✅ Designed to operationalise the 2008 Indo–US Civil Nuclear Agreement, enabling US reactor suppliers to secure liability insurance in their home countries.
✅ Amended the Atomic Energy Act, 1962 to allow private sector participation in India’s nuclear power programme.

📍 Key Features of the Act
✅ Compensation Cap:
• Operator’s liability capped at ₹1,500 crore (₹15 billion / USD 200 million).
• If damages exceed this, the Central Government provides additional compensation through Special Drawing Rights (SDRs) up to 300 million.

✅ Legal & Financial Accountability:
• Both operator and Union Government are bound to provide compensation.
• Establishes a clear structure of financial liability for different nuclear facilities.

📍 Operator’s Liability Structure
1️⃣ Nuclear reactors ≥10 MW: ₹1,500 crore
2️⃣ Spent fuel reprocessing plants: ₹300 crore
3️⃣ Research reactors <10 MW, fuel facilities, transportation of nuclear material: ₹100 crore
➡️ Government may revise these limits upward.

📍 Claims & Time Limit
✅ Claims for compensation must be filed within 10 years of the nuclear incident.

📍 Atomic Energy Act, 1962 (Context)
✅ Empowers the Union Government to produce, develop, use, and dispose of atomic energy directly or through government companies/authorities.
➡️ CLND Act builds on this framework by defining liability and compensation norms.

✅ Convention on Supplementary Compensation for Nuclear Damage (CSC)
📍 Overview
✅ A global instrument aimed at creating a unified international nuclear liability regime and enhancing compensation available to victims of nuclear accidents.

#prelims #GS3
#science_and_technology
#science_technology

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