Deputy Minister of Industries, Mining and Trade Mojtaba Khosrowtaj believes the economic impact of sanctions relief will become tangible by the end of the next Iranian year (March 2017). “The removal of sanctions will open up new markets for Iranian exporters, boost our purchasing power and give us a bargaining edge in our sales negotiations,” ISNA quoted Khosrowtaj as saying. The deputy minister noted that under sanctions, banking restrictions imposed additional costs on different segments of the economy and the implementation of the nuclear deal will eliminate these costs. The International Energy Agency was expected to announce on Friday that Tehran has complied with July’s nuclear deal, prompting the removal of sanctions by Monday.
