The successful implementation of last month’s nuclear deal between Iran and major powers depends heavily on the western side’s commitment to “truly” removing the sanctions, which will substantially benefit Tehran by creating confidence in overseas firms intending to enter the Iranian market, a former diplomat says.
“The effectiveness of the nuclear deal will rely largely on the P5+1 (the five permanent members of the United Nations Security Council plus Germany) instilling confidence in the global business community that sanctions have been removed and the country is open for business,” Hossein Mousavian said.
He wrote in a recent article for the Washington Post that the West should “truly” lift sanctions to provide “tangible benefits” for Iran, which requires efforts to assure foreign investors that the accord will stick, despite attempts by its opponents in the US to discourage business with Iran by creating uncertainty over the fate of the deal which if successful may prompt Tehran to back out of the deal.
“Truly removing sanctions in a way that would have tangible benefits for Iran would require shaping expectations in such a way that businesses do not feel their investments are precarious and susceptible to the political machinations of the US Congress or a future US president.”
Congress has until September 17 to vote whether to reject the deal, officially known as the Joint Comprehensive Plan of Action.
Rejection will face an expected presidential veto that opponents of the JCPOA can override if they win the support of at least two-thirds majorities at both the senate and the house.
“Congress’s ability to play a spoiler role comes not only from the power it has to scuttle the deal altogether but also from its efforts at fostering an uncertain atmosphere regarding the removal of sanctions on Iran,” Mousavian said.
Western parties to the JCPOA are well aware that “the efficacy of sanctions lies in the willingness to remove them to maintain a compromise,” the former nuclear negotiator said, adding, “They would be wise to confront any issues that would prevent Iran from attaining the scale of sanctions relief outlined in the agreement.”
