Billions up for grabs if nuclear deal opens Iran economy

A trader speaks with a stock market official beneath the electronic board at the Tehran Stock Exchange, Sept. 15, 2010. Caren Firouz | Reuters

DUBAI, April 3 (Reuters) – Iranian investment banker Ramin Rabii says he shouted in joy when he learned that Tehran and world powers had reached a deal which promises to lift economic sanctions on Iran. Then he called colleagues to discuss the business implications.

Rabii, managing director of Turquoise Partners, a Tehran-based investment firm with about $200 million of assets under management, has been grappling for years with the results of the sanctions: unstable growth, high inflation, international banking restrictions and hard currency shortages.

The agreement on curbing Iran’s nuclear programme, reached on Thursday, will – if confirmed in a final deal by a June 30 deadline – begin to ease those crippling problems for Turquoise and thousands of other Iranian firms.

“We’ve been preparing for this moment for 10 years,” Rabii said by telephone, adding that in the months leading up to the deal Turquoise was in touch with hundreds of potential foreign investors about opportunities for them if sanctions were lifted…

Share