European companies beat US to Iran business after nuclear deal reached

he ink was barely dry on the agreement with Iran to limit its nuclear programme before a German government plane packed with the nation’s economic elite touched down in Tehran.

The trip was the first in a rush of European ministers and business people flocking to a market poised to reopen after years of grinding sanctions. Upscale Tehran hotels are packed and tables at trendy restaurants are scarce as foreigners jostle for bargains, even amid uncertainty over whether President Obama can overcome US congressional opposition to the deal.

The stream of visitors to Tehran is the latest sign of the Atlantic-wide divide between the US and Europe, where there is scant opposition to the pact that aims to crimp Iran’s nuclear ambitions.

Share