the iranian nuclear deal
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www.time4education.comTriumphant Institute of
Management Education Pvt. Ltd.
The Iranian Nuclear Deal
Area 16.48 lakh sq. km.
Population 7.8 crore
Population growth rate 1.29% (2013)
GDP (nominal) $406 billion
GDP (PPP) $1.24 trillion
GDP growth rate 3% in 2014
Per capita income (’13) $4769 (nom.); $16,165 (PPP)
Forex Reserves Approx. $70 billion
Labour Force 24 million
Unemployment rate 11.4% (2014)
External debt $16 billion
Iran’s Vital Statistics
∫ Largest Shia republic; rivals Saudi Arabia for hegemony over Islamic World
∫ Ruled by Clerical Administration since 1979Islamic Revolution
∫ Views U.S. & Israel as enemies of Islam
∫ U.S. views Iran as a major sponsor of
terrorism – part of ‘Axis of Evil’
Iran: Basic fact-sheet
Iran v West: Nuked relationship
∫ Accused by IAEA/U.S./EU of pursuing nuke weapons program; charge denied by Iran
∫ Tehran says its nuke program is peaceful & aimed at civil energy generation
∫ IAEA asks Iran open its nuke facilities to inspections
∫ Iran ignores international demands for rollback of nuclear program
Important sidelights∫ Iran - member of the NPT
∫ NPT forbids members other than P5 from owning/pursuing nukes
∫ As IAEA member, it should abide by its rules
∫ Desperately to get into WTO, a move stymied by the West
U.S./EU/UN Sanctions∫ No country could buy energy resources from Iran
∫ Ban on supply of nuke-related technology & materials to Iran
∫ Freeze on assets of key Iranian individuals & companies
∫ No business/financial transactions with Iran; if any country/company was found violating this rule, then such entity will be banned from US/EU financial markets
∫ Crippled Iran’s fragile economy; massive scarcity of essential goods, incl. medicines
∫ Leading to flight of foreign capital
∫ Tough to export energy (oil & gas), its most imp
forex earner
∫ All this pushed economy into severe crisis
Impact of Sanctions
What about negotiations?∫ Talks between Iran & E3 (Britain, France, &
Germany) for several years
∫ E3, backed by the U.S., adopted carrot & stickapproach in talks with Iran
∂ Carrot: Back Iran’s entry into WTO & end sanctions
∂ Stick: More stringent sanctions
∂ But.... Iran remained intransigent; talks hit a wall.
The Israel factor∫ Iran calls for wiping Israel off the “map of the
world”
∫ Iran supports anti-Israel Islamic militant groups like Hezbollah; proxy war
∫ Israel hints at military strike at Iran’s nuke facilities to destroy them; Israel puts pressure on the U.S. for military strike
∫ Cyber warfare – Stuxnet
Agrees to freeze its uranium enrichment program
Abandons weapons pursuit
Opens all nuke facilities to IAEA
inspections
Integration of economy with global economy; plans high
oil production
Bulk of sanctions lifted; $100 bn in overseas
assets defreezed
Nuke Deal: Impact
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