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Opportunities For Trade With Iran and the UAE After Trade Sanctions Against Iran
14 Jan 2015
The Latest Developments In Sanctions Against Iran
U.S. Congress may yet ratchet up sanctions against Iran this Summer, in their goal of achieving access for inspections of nuclear facilities in Iran. Yet any escalation of pressure, may however, also backfire, as more conservative elements in Tehran could interpret increased sanctions as unfair and unwarranted, which could undermine the talks altogether - a situation the U.S. wants to avoid altogether. There is no escaping the fact that the U.S. wants to see Iran’s nuclear programme as purely for civilian and not military strategic purposes, so could tread a cautious path during negotiations.
At the White Rose Group, we see this desire to work with Iran in the fact that the U.S. has extended relief on economic sanctions until June 30 from June last year’s deadline, whilst talks over Iran’s nuclear program continue; this according to Democratic Sen. Bob Casey will help Iran gain strength regionally and internationally. Senator Casey served on the Senate Foreign Relations Committee for more than six years, so speaks with authority.
In particular exports of Iran’s oil is its most important source of revenue. With economic sanctions lifted, this will help exports of oil, albeit prices of crude oil on the global market are dropping – recently to below $50 per barrel.
An additional 500,000 to 600,000 barrels of oil per day are likely to come onto the market in the next six to eight months if sanctions against Iran are lifted. These figures were quoted at an energy conference in Abu Dhabi, by Dr Sara Vakhshouri, president of get in touch to discuss any of your ideas.
So whilst we welcome the fact that the UAE would benefit greatly via trade with Iran, we hope that Tehran will continue to maintain strong diplomatic relations with its GCC partners and keep up the cross border business networking events, in the knowledge that although Dubai has also been the traditional route for Iranian imports, Iran has more opportunities than ever to develop imports from gateways opening up via recent and planned infrastructure developments reported elsewhere in the White Rose Group’s blog.