Nuclear deal is a big win for ordinary Iranians
Ordinary Iranians the big winners in groundbreaking nuclear peace pact, Irish Independent Mary Fitzgerald18/07/2015 The images from Tehran after news broke of an historic deal on Iran’s nuclear programme this week told their own story. Exuberant crowds took to the streets, cheering and dancing in celebration of an agreement that means their nation will now come in from the cold of international sanctions.
Many carried a large, wooden key, the symbol of president Hassan Rouhani’s election campaign two years ago, during which he put a nuclear deal on the top of his priority list.
The accord announced in Vienna was the fruit of 19 days of intense negotiations and four missed deadlines. It is designed to contain Iran’s nuclear programme, which Tehran has long insisted is only for energy purposes, for at least a decade, and will involve more comprehensive UN inspections to monitor its nuclear facilities.
As part of the deal, Tehran will get relief from the international sanctions that have crippled its economy for almost 10 years. The agreement is not only a victory for Rouhani, it is also a vindication of US President Barack Obama’s policy of engagement and marks Washington’s first real success in dealing with Tehran since the seizing of the American embassy there in 1979.
Anyone who has visited Iran in recent years will know how much sanctions have affected ordinary Iranians. Isolation from the international banking system and the loss of oil revenues have caused Iran’s currency, the rial, to plummet by two-thirds of its value against the dollar since sanctions were tightened in 2011.
Inflation has soared and the prices of fuel and basic foodstuffs have rocketed. Some estimates hold that the most recent round of sanctions brought Iran’s GDP down by 20pc and contributed to a jobless rate of 10.3pc, hitting young Iranians the hardest.
Between 2009 and 2013, more than 300,000 Iranians emigrated in search of better prospects elsewhere, and today, 25pc of Iranians with a post-graduate education are to be found living and working outside Iran.
By some estimates, the re-entry of Iran to the global marketplace means its economy will grow to more that 5pc GDP within a year. With the fourth-largest crude oil reserves in the world, the end to sanctions means Iran could increase its production to around 4pc of global output within months, thus lowering oil-price forecasts by $5-$15 per barrel.
The reopening of Iran and its consumer market of 78.5 million people means there will be a flurry of interest from investors. The country’s creaking infrastructure – particularly in its energy sector – means it needs all the help it can get……..
While the agreement does not mean diplomatic relations will be restored or Washington will shy away from criticising Tehran’s support for militant groups and its human rights abuses at home, it may usher in some form of coordination in relation to the battle against Islamic State in Iraq……….http://www.independent.ie/world-news/middle-east/ordinary-iranians-the-big-winners-in-groundbreaking-nuclear-peace-pact-31386064.html
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