July 31, 2015 | The Tower Magazine
Gold Rush: The Dismantling of the Sanctions Regime Against Iran
With most sanctions scheduled to be lifted on Implementation Day of the Joint Comprehensive Plan of Action (JCPOA), the deal signed in Vienna by Iran with the six world powers charged with negotiating over its nuclear program will inaugurate the rapid revival of Iran’s economy. More sanctions and designations are being lifted by the European Union than by the United States. European companies will thus be able to quickly tap into Iran’s vast energy sector and its growing consumer market. By the first week of August 2015, delegations from Germany, Italy, and France – formerly Iran’s first, second, and third-largest economic partners in Europe – will have visited Tehran, alongside the EU High Representative for Foreign Policy, Federica Mogherini. More are sure to follow. Iran is, arguably the last untapped emerging market. The gold rush has begun.