February 2, 2016

IT'S A TRADE DEAL:

Iran's Road to Easy Wealth : Thanks to its nuclear agreement with the U.S., Iran is reaping financial benefits from unfrozen assets. (James S. Robbins Feb. 3, 2016, US News)

Was the Iran nuclear deal really all about nuclear weapons, from Tehran's point of view? Or did the mullahs play the world for suckers as a road to easy wealth?

On Monday, Iran's government announced that it had gained access to $100 billion in previously frozen assets, freed up under the terms of the Joint Comprehensive Plan of Action, the controversial nuclear agreement adopted in October and implemented last month. Tehran is being courted by Airbus and French automaker Peugeot-Citröen to help spend this windfall, for potential deals unveiled last week totaling $30 billion. Iran has also rejoined the SWIFT international banking network to ease the transfer of foreign funds into the Islamic Republic.

The unfrozen assets, mainly held in Asian banks, for the most part represent credits Iran had built up for prior oil and natural gas purchases under the now-defunct sanctions regime. Part of it may be spent on buying European cars and aircraft, and part may go to building Iran's infrastructure, or schools, hospitals or homeless shelters. But it will also be spent on terrorism. 

Posted by at February 2, 2016 3:51 PM

  

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