Middle East Public date: 24.08.2017 23:12:18

Publisher: Spiegel Online

Author:

3 Jan 2014

Geneva Deal Sparks New International Investor Interest in Iran

Rohani needs economic success stories. He has to sweep aside the sanctions but, more importantly, move faster than inflation, which is eating away at the already meager income earned by millions of Iranians. The monthly minimum wage is only 140 ($190). Iranians are suffering under the embargo, and they are not just holding the Americans responsible for this. The price of gasoline has multiplied; milk and cheese now cost three times as much as they did two years ago. But it looks like the nuclear negotiations could spark an economic upswing in Iran. Although none of the sanctions have been lifted, droves of Western business people are already flocking to Tehran. Iran has the world's fourth-largest known oil reserves, and the second-largest gas reserves. Business deals worth billions of euros can be made here.
Rohani needs economic success stories. He has to sweep aside the sanctions but, more importantly, move faster than...

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