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17 April 2016


Disappointing Nuclear Sanctions Relief

Secretary of State Kerry and Foreign Minister Zarif should be most disappointed that all the work they put into the agreement between the U.S. and Iran has resulted in no significant increase in economic benefits for Iranian consumers or industry.

The domestic political situation in the U.S. is indeed partially responsible for the reluctance of U.S. and European banks to encourage their corporate clients to do business with Iran.

The revenge of the bureaucrats in the U.S. for the Iranian U.S. embassy hostage crisis has been to encumber trade with Iran.  Moreover, trade with Iran has become less important to the U.S. and Europe in the last thirty-seven years, when Chinese and Indian industrial growth, Russian gas, U.S. fracking, and other developments have transformed international economic relations.

 

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