In response to the execution of the nuclear agreement between Iran and the international community (six world powers) made last July, the international community lifted the sanctions against Iran last weekend. This means a step forward for Iran and access to the global market once again.
The international team of negotiators who reached an agreement last year.
The sanctions were put in place due to the suspected Iranian ambition to develop a nuclear weapon. This is why the country was ousted by the international community from the global market. The oil export was made difficult, airlines couldn't buy new planes or spare parts and access to the international financial system was taken away from Iranians. In July 2015 Iran and the international community reached an agreement on the nuclear ambitions of the country. In exchange for different measures (such as allowing checks, less uranium enrichment and accepting UN supervision), the sanctions that come with this conflict were to be lifted.
On Saturday the proclamation that the United States and Europe would lift the sanctions followed. This means that Iran can enter the global market with oil. In a response to this development many stock markets in the Middle East opened in red. The market expects a further decrease in oil price now that the supply is larger. It is expected that the Iranian oil export could grow from 2.8 million barrels per day to 3.5 million barrels in 2017.
Airlines are also once again allowed to buy new planes and spare parts. But more important for the international market: sanctions again for the banking sector are being lifted. The sector will be given access to the international capital market again. Because these restriction have been lifted and payments are possible again, the country's economy can pull up.
However, only the sanctions in regards to Iran's nuclear ambitions have been lifted. This means that the limits placed in regards to terrorism or human rights are still enforced. These are mainly limits on strategic techniques and products.
Despite this, this market in a country with 77 million inhabitants, offers a lot of potential for different sectors. Minister Ploumen sees opportunities for companies in the water sector, agriculture and oil and gas industry, the minister told the NOS. She warns, however: "It will take some time for Iran to be connected to the international payment system. A number of sanctions that were announced due to human rights violations in Iran will also remain in place. This will mean limits," the minister said to NOS.
The Dutch government is rewriting the Iran Handbook, which will soon be available here.