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Iran’s ‘business friendly’ election result unlikely to quickly unlock financial flows

Incumbent Hassan Rouhani’s overwhelming victory in the presidential elections held on 19 May has reduced the risk that the January 2016 Joint Comprehensive Plan of Action (JCPOA) will be allowed to collapse and that new international sanctions might be imposed – a potential bilateral withdrawal by US President Donald Trump from the Iran nuclear deal notwithstanding. The result was welcomed by the international business community as marking a clear defeat for hardline conservatives – which some analysts see as part of a longer term move towards the centre in Iranian political life – and a green light for Rouhani’s economic reforms.

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