Today: Friday
22 September 2017
10 July 2015

Iran as an attractive economic partner

Iran as an attractive economic partner

The portal Sputnik with the reference to Empresa Exterior says that Iranian economy will be very attractive to foreign investors when the Western sanctions are removed.

Iran has a substantial economic potential. Despite the existing sanctions on Iran, GDP of the country is the second biggest in the Middle East region. Iran leads in gas reserves in the world leaving Russia behind. Oil resources of the country are the fourth in the world. Iranian government stated recently that if the sanctions were removed, the country would return to the pre-sanctions oil export coefficients (this is the level of the mid 2000s) within three months.

Russian companies plan to return to Iran too. For example, Lukoil which was making geological surveys with the company “Statoil” on the Anaran block, has claimed that it is looking for the ways to return to the Iranian market after all the international restrictions’ removal. Two new oil fields were discovered in Iran due to the work of the Russian company. They are called Azar and Shangule.

In addition to this, Iranian agriculture and tourism attract foreign investors and private companies. If the sanctions are lifted, these sectors will be financially supported from abroad.

However, as Empresa Exterior noted, there are quite a few obstacles on the way to a dramatic economic advance of Iran. It is not quite clear when all the sanctions will be entirely removed. Iran demands to end them as soon as possible. Yet, the US and the European Union insist on a gradual sanctions’ removal as they are not sure that Iran will comply with the obligations taken.