Between signing of the JCPOA in July 2015 and lifting of the sanctions in January 2016, Moscow had a special window of opportunity to gain economic benefits from its politico-military friendship with Tehran that may bear fruit in the future. But in return, Russia must now prepare itself for competition: Russia will compete with Iran in the international energy markets while also competing with European, Chinese, and American investors for a slice of the newly opened Iranian market. This will be an especially challenging task in light of the domestic economic challenges that Russia currently faces, but the payoff may be worth it.
Originally published on The Diplomat Magazine by Huseyn Panahov When the P5+1 struck a deal with Iran on its nuclear program in July 2015, general expectations were that the sanctions could be lifted as early as spring 2016. Within the agreed Joint Comprehensive Plan of Action (JCPOA), the Iranian Foreign Ministry signed several obligations that […]
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