The international community has just lifted sanctions on Iran in exchange for major nuclear concessions under the deal signed last summer. But fresh lows in oil prices and poor economic performance in Iran mean that Iran will not benefit economically in the ways that critics fear or deal supporters hope.
The architects of the nuclear deal with Iran lauded 'Implementation Day,' on which the sanctions were relieved, as a watershed moment for Iran. Overnight, the United States and the European Union rolled back restrictions on Iran’s international banking activities, oil and refined product sales, and its auto, ports, insurance, shipping and airline sectors. Iran is now allowed back into elite economic circles after decades of international exclusion.
Read the full op-ed in The National Interest.