Ka-ching! That’s the sound coming to Iran after their interim nuclear deal with world powers alleviates sanctions on the Islamic Republic. The Wall Street Journal is reporting that not only will Iran get sanctions relief on things like airplane parts, but the deal will also make it easier on banks to coordinate food and medical business between Iran and the West.
Nestlé, the famous chocolate company, is just one of the businesses that cut sales to Iran over problems being paid. But now that the banking situation is going to be more relaxed, they just might resume business with Iran. That’s good for them and probably not good for you.
A spokesman from Nestlé told The Wall Street Journal they’re looking at things, but it’s “too early” to say how it will affect business. That was the general line from other businesses too, but the European Federation of Pharmaceutical Industries and Associations thought the relaxing of bank restrictions “should help.”
Why does it matter? Because the main pressure the West can inflict on Iran to get them to halt their nuclear weapons ambitions is economic. While imports of European pharmaceuticals isn’t likely to change Iran’s fortunes on its own, it is likely to help ease that economic pressure.
That’s the give and take of the nuke deal. If it results in a final deal in which Iran halts their nuke program once and for all, then we all win. If Iran uses the easing of economic sanctions to buy time to finally build the bomb, then they win and we lose – big.
For now, the big winners appear to be Iranian drug stores and candy shops. Time will tell if terrorist drug lords and religious fanatics will reap the ultimate benefits.
(By Joshua Spurlock, www.themideastupdate.com, Dec 3, 2013)