Monday May 25, 2020

Is the promise of Iran’s riches all it’s cracked up to be?

Since sanctions were relaxed, European countries are racing to strike deals in Iran, writes Jack Horgan-Jones in Tehran

19th May, 2016
Jack Horgan Jones reports from Tehran

“Everybody wants to take us to dinner,” exclaims Nader Ghadessi of the Iranian Business Council in Dubai. And he’s not wrong.

But in Iran they weren’t celebrating the nuclear deal - they were welcoming the end of sanctions which had made substantive business relationships with the West almost impossible. Trade between the EU and Iran dropped from €28 billion in 2012 to €6 billion in 2014.

The Iranians hoped that the...

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