In recent days, the international community has been busy wrapping its head around the possible implications of a nuclear deal with Iran (coupled, of course, with the lifting of sanctions), and what it could mean for oil prices, Middle Eastern politics, and everything in-between.
Days after Iran and world powers reached a historic framework nuclear agreement in Lausanne, reactions and responses have kept pouring in. While some media outlets have already begun to envision a future in which investors line up to get into Iran on the day after the removal of sanctions (if the deal even lasts that long), others are focusing on the challenges yet to come, which would have to be overcome before such a future can materialize, or presenting a more sober view of the current pre-deal reality (yet others, apparently, have been hard at work finding the “best historical analogy for the agreement”).
Among the many reports and forecasts on the effects of an Iranian nuclear on oil prices – on Business Insider, Fuel Fix, Bloomberg, Financial Post, to name a few – a Reuters report on the EU re-imposing sanctions on an Iranian bank and 32 other firms stood out, as did the news outlets’ interpretation of the move as a “signal that the 28-nation bloc will keep up sanctions pressure on Iran until a final nuclear deal is sealed.”
However, most sites focused on the opportunities that would arise from such a deal, from investment in Iran on “terms you can’t get anywhere else,” as per CNBC, to a chance for Islamic banks to “tap foreign funding,” to tourism and skiing in the Alborz Mountains (“many globetrotters might be thinking the time is ripe to visit a country once referred to in the West as a pillar of the Axis of Evil,” quipped Umberto Bacchi on the International Business Times).
On The Washington Post, Austin Long opined that the deal also created another opportunity – the opportunity for “increased benefits and reduced costs” should the US eventually decide to bomb Iran. Meanwhile, according to Lebanon’s Daily Star, Hezbollah leader Hassan Nasrallah saw the deal as beneficial in another way – empowering Iran to become “richer, more influential,” and able to support Hezbollah and “the Palestinian resistance” more than “at any other time in history.” A win-win situation? Seems like the press is still trying to wrap its head around that…