Who Benefits from Iranian Business?
Exclusive: European and U.S. businesses are hoping for a bonanza once Iran is freed from economic sanctions, but the West must overcome decades of distrust from the Iranians, meaning that Russia and China may have an early edge in building commercial bridges to Iran, writes Andrés Cala.
By Andrés Cala
The nuclear deal between six world powers and Iran will reset key economic and geopolitical relationships but perhaps not in the way many Western pundits expect. Iran, unshackled from international sanctions, is sure to reach out to U.S. and European companies for goods and technology but may favor Russia most of all because of a budding relationship built on mutual trust and mutual interests.
Iran’s difficult history with the United States – dating back to the CIA coup overthrowing Iran’s elected leader in 1953 through the tensions with Iran’s Islamic Republic and U.S.-instigated economic sanctions – makes Iranian leaders leery of again becoming dependent on Western banks and being vulnerable to U.S. geopolitical designs.
Iranian
President Hassan Rouhani (left) shakes hands with Russian President
Vladimir Putin at the Shanghai Cooperation Organization summit in the
Kyrgyz capital of Bishkek on Sept. 13, 2013. (Photo credit: Press TV)
President Hassan Rouhani (left) shakes hands with Russian President
Vladimir Putin at the Shanghai Cooperation Organization summit in the
Kyrgyz capital of Bishkek on Sept. 13, 2013. (Photo credit: Press TV)
