European politicians and business leaders, resembling the running of the bulls in Spain, are falling over themselves in a rush to secure the “first-mover” advantage in Iran’s $400 billion economy.
Under the nuclear deal reached in Vienna on July 14, international sanctions will be removed on Iran’s banking, energy and trade sectors if Tehran agrees to certain curbs on its nuclear program.
The lifting of sanctions on Iran, a market of 80 million consumers (the second-largest market in the Middle East after Turkey in terms of GDP) creates the potential for staggering business opportunities.
This is no surprise. The nuclear deal has opened the floodgates to much pent up demand, economic, political and uh… social.
Obama is turning his back on the Middle East and Europe is simply taking advantage of the region’s new order.
Lip service will be payed to past assurances of Israel’s security but I suspect the future will hold demand after demand for concession after concession as Israel becomes increasingly isolated.