September 19, 2015

TRADE TIME:

After Congress Fails to Disapprove, Administration Starts Moving on Iran Deal (FELICIA SCHWARTZ, Sept. 18, 2015, WSJ)

The Treasury Department estimates that it will take until 2020 for Iran's GDP to return to where it would have been today had sanctions not been aggressively ramped up in 2012, the first senior administration official said.

"On implementation day, essentially, the sanctions that prevent Iran from doing a lot of this sort of business will be lifted, will be suspended...but it's going to take their economy some time to dig out of the hole that it's been in as a result of these sanctions," the official said.

Nonetheless, once the deal is fully implemented, months from now, many transactions will be permissible. "If a country wants to start buying Iranian oil they'll be able to buy that oil right way," the official said, adding that Iran might not be able to meet international demand right away.

Posted by at September 19, 2015 7:41 AM
  

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