© 2016 AFP
Brilio.net/en - Good behavior is rewarded, as Iran has learned in recent days. Iran ahs completed the necessary steps in a deal to restrict its nuclear program. This means that several international sanctions will be lifted on the Middle Eastern country, effectively opening the economy to the western world. The U.S. Secretary of State John Kerry stated that it was a historic day for the Islamic republic.
The milestone means that Iran has now joined several powerful nations such as Germany, France, the UK, China, Russia, and the US in the field of peaceful use of nuclear energy. By drastically reducing the stockpile of enriched uranium, reducing the number of centrifuges and agreeing to international inspections Iran has made significant steps toward its 10 year deal to limit its nuclear energy.
Lifting the sanctions will effectively catapult Iran into the international economy. International trade and investment will be open to one of the fastest emerging markets globally. It is expected that Iran will export 300,000 barrels of oil per day, starting immediately. Furthermore, Iran will have access to $100 billion dollars that were frozen in overseas accounts.
Yet not all were celebrating this step toward international diplomacy. Prime Minster of Israel Benjamin Netanyahu said that Israel will continue watching Iran. "Today, a country that threatens the existence of Israel, denies the Holocaust, destabilizes the Middle East, subjugates its own people and supports terror across the globe is being strengthened by the international community," said Yair Lapid, a member of the Knesset.
While the lifting of sanctions is a welcomed step in international diplomacy, it is only the beginning. The supreme leader of Iran, Ayatollah Ali Khamenei, still poses a threat to international security through his adamant support of Hamas and his threats against Israel.
For now, we can all enjoy the cheaper oil as oil barrels have slumped to a 2003 low of $28/barrel, as the market anticipated a rise in exports from Iran.
(Reported by Ivana Lucic)
(brl/tis)
