Hey, readers: the interim nuclear agreement went into effect Monday. Now we’re really in business.
Sigh, old news. The media’s attention has since turned to Davos, where Iranian President Hassan Rouhani made his way to the World Economic Forum. According to Reuters, Rouhani was to meet in Davos with Western oil CEOs in a bid to win investments and revive the oil sector choked by sanctions.
At first glance, however, doesn’t seem that Rouhani had much to say at Davos, as reflected by USAToday’s heading “Iranian leader pledges ‘constructive engagement’.” Boring!
At this point the media seems to be having difficulty deciding if the nuclear deal has once again made Iran an attractive commercial target.
On the one hand, Bloomberg published the results of a poll showing that nearly two-thirds of respondents thought Iran wasn’t a viable investment. On the other hand, Reuters reported that Iran’s oil sales had picked up in the January for the third consecutive month.
Indeed, amid its rich coverage of Iran this week Reuters also predicted that the country’s “gold rush” would be curtailed by the limitations still imposed on it, with only the success of future nuclear negotiations determining whether Rouhani’s “charm offensive” will result in full-blown Western involvement in Iran’s economy.
And so it appears that the media is creating a dual image of developments. Report after report heralding yet another trade delegation on its way to Tehran give the impression that the floodgates have opened. But apparently Big Oil is proceeding with the utmost caution. Maybe Davos will change that – and maybe it won’t.