Is there a way to keep doing business with Iran after US sanctions?

Is there a way to keep doing business with Iran after US sanctions?
Diplomatic and commercial figures have gathered in Brussels for the Iran Forum.
Very much in the backdrop was the withdrawal by the United States from the so-called JCPOA nuclear deal and their subsequent re-imposition of sanctions on Iran.

That decision by President Trump has made it harder for Iranians to conduct business outside their country, and the deal may well collapse if a way is not found to retain Iran’s commercial ties to the outside world despite US sanctions.

Iranian Deputy Oil Minister Amir Hossein Zamaninia, himself a former nuclear negotiator, told Euronews it would be “very difficult to be optimistic” about the prospect of retaining the deal after the US decided to reimpose sanctions.

“Time is of the essence and time is running out,” he said. “Iran has some strategic patience but again, the balance of JCPOA has been destroyed. Those who think that it is an important agreement, which it is, need to remedy this balance now.”

Technological Solution?

But the organizer of the Iran Forum believes new technology can be harnessed to maintain Iran’s commercial relationships with the outside world, circumventing US restrictions.

Mohammad Hossein Adeli, who used to be the Secretary General of Gas Exporting Countries, told Euronews:

“In knowledge and in technology, there are many ways to remove all borders and sanctions, because the real relationship and cooperation is through the web, is through technology and it is not through conventional ways that require physical transfer of things from one place to the other place.”

If the diplomatic and business figures gathered here in Brussels can rise to the challenge, they may be able to preserve peace and security in at least one part of a volatile Middle East.

Read On



Author: HEDGE

Hedge Accordingly was founded ahead of the global financial crisis in January of 2008, with the goal of providing our readers our unique take on The Latest News on Wall Street, Stocks, #Politics and Business news. Hedge Accordingly produces both original, and aggregated #Wallst news content from top publishers around the world. We curate aggregated content covering the latest news on politics, stocks, wall street, and the tech industry. We also provide free stock charting, quotes and a bitcoin, forex and currency exchange. Learn More About