July 15, 2015

In Iran, Business Deals Rarely Smooth

By Peter Harrell

Source: The Wall Street Journal

Journalist(s) Benoit Faucon

TEHRAN—Despite the euphoria inside Iran over an end to sanctions, the country remains a place where Apple Inc. won’t sell the iPhone, oil giant Eni SpA is quarreling over past outlays, and Boeing Co. hasn’t sold spare parts because of pricing disagreements.

The Islamic Republic has a lingering reputation as a difficult place for outsiders to do business. Even with Tuesday’s Vienna accord, foreign businesses looking for new markets would find Iran a country that ranks a lowly 130th on the World Bank’s ease-of-doing business list, and a place where bureaucracy, episodic corruption and political interference have long been encountered. 

“This is a market where you are going to need to do a lot of homework,” said Peter Harrell,a former deputy assistant secretary for counter threat finance and sanctions at the U.S. State Department.

Read the full article at The Wall Street Journal.

  • Peter Harrell

    Adjunct Senior Fellow, Energy, Economics and Security Program

    Peter Harrell is an adjunct senior fellow at the Center for a New American Security, where he focuses on the intersection of economics and national security. Research interest...