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Arak Reactor. Key Place of the Iranian Nuclear Program
The new sanctions imposed by the United States against Iran, after its withdrawal from the nuclear pact (JCPOA) will have a great negative impact on the economy of the Islamic Republic, after growth 12.5% over the period 2016 and 2017.
This is what the prestigious International Institute of Economic Studies Vienna (WIIW) said in a study where it is said that many multinational companies reject the idea of continuing to invest in Iran for fear of US sanctions, which will come into effect next August.
Similarly, the WIIW sees it difficult for countries that remain in the pact, such as France, the United Kingdom and Germany, to encourage European companies to stay in Iran.
"Concerns over the new round of sanctions have already had a strong impact on the Iranian economy, including a sharp devaluation of the Iranian rial, panic in the domestic market and a sharp capital flight since January 2018. "
" The Iranian economy is facing tough times and US sanctions will harden an already difficult situation, and with that, the successes of the past few years could be ruined, "concludes WIIW
. Compensating companies for the sanctions imposed by the United States would entail very high economic costs, says the WIIW in the report published today. On the occasion of the visit of the Iranian President Hasan Rohani to Vienna
In an attempt to calm the tension after the American withdrawal, Rouhani visited Switzerland and Austria this week, the two European countries that facilitated the 2014 and 2015 negotiation of the nuclear pact and the maintenance of close trade links with Iran.
Rohani's visit to Vienna comes two days after a ministerial meeting of the JCPOA signatories (with the exception of the United States) in Vienna.
This meeting could be the key to the future of the nuclear agreement, signed in Vienna on July 14, 2015.
According to the WIIW report, which is based on information from officials Iran, Teh Erán focuses on finding mechanisms to secure oil sales and not to promote foreign investment by European companies.
A strategy that the WIIW indicates as "wrong" because, given the good conditions of Iran with regard to its human capital and its access to natural resources, its economic needs now go through investments more important in the technology sector.
The WIIW points out that the best strategy to solve these problems and improve Iran's economic prospects would be to establish new negotiations with the United States. EFE
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