No quick start for trade finance operations in Iran
Issue 999
- 05 Sep 2015
| 5 minute read
The deal between Tehran and the P5+1 powers over Iran’s nuclear programme should, as international sanctions are lifted, eventually make Iran the biggest economy to rejoin the global trading and financial system since the break-up of the Soviet Union over two decades ago. The World Bank has forecast that the deal will add 1m b/d of crude, reduce oil prices by $10/bbl in 2016 and drive Iran’s economic growth to 5% in 2016 from 3% this year. On 12 August, Switzerland became the first nation to remove sanctions.
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