Iran, stop sanctions: geopolitical and economic effects

The Un resolution officially stops Teheran trade sanctions. “It’s the only chance to stop the nuclear program” the Us government said. While it’s an important commercial solution for Europe and Italy.

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Thanks to the UN resolution on 20th July, the Security Council has approved the end of sanctions against Iran. Go ahead, then, to the pact between the 5 + 1 and Teheran found in Vienna last 14th July. The document will come into effect no earlier than 90 days.

A historical agreement for the West in geopolitical and economic point of views. Geopolitical for the United States, as noted on July 23 by the US Secretary of State Kerry: “We could certainly expect Iran fall – he told the Congress -. But it was the best possible option. I hope that the Congress (addressing to the Republican Party, ed) approve because this is the only chance to stop the nuclear program and avoid the risk of a military clash,”he concluded.

But in addition to policy issues in the Arab world, solutions are also commercial. Executive Vice President and General Manager of Saras (Italian oil refining company) Dario Scaffardi, in a summit on business and finance, as well as underlining the benefits that the decline in oil prices has already resulted in the international market, has reported that, following the end of the embargo, his group has been contacted by Iran, got back to be the protagonist of the international market of crude oil. The return to oil production from Teheran “will carry a million barrels of crude oil per day on the market once the sanctions removed. With the possibility of adding 0.5-1 million barrels quickly enough, “said the manager of Moratti family factory.

On the Italian front, also, next 4th and 5th August, the Minister of Foreign Affairs Gentiloni Economic the Minister of Economical Development Federica Guidi will travel to Iran together with representatives of Italian largest industrial groups. The goal is getting back to a significant foreign trade with Teheran. In fact, before the revolution of 1979, Europe was the first import and export partner of the former Persia. In the early 1990s, this primacy went to Russia, which, in addition to geopolitical relations of friendship, made meaningful investment on oil and gas.
Giacomo Pratali

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