Iran could become one of Gulf’s wealthiest nations if US lifts oil sanctions, says The Economist

The Economist has assessed that if the United States makes a permanent exemption from sanctions on Iranian oil, the country could become one of the wealthiest nations in the Persian Gulf within a decade. According to the magazine’s analysis, expanded oil exports, the unfreezing of assets, revenue from shipping tolls through the Strait of Hormuz, and a $300 billion reconstruction fund committed by the Trump administration could significantly boost Iran’s economy.

The publication suggests this economic transformation could occur without Iran being required to make substantial concessions on its nuclear programme or reduce its support for regional proxy groups, according to current assessments. The combination of restored oil sales and financial relief would provide Tehran with substantial new revenue streams to invest in economic development and reconstruction efforts following years of sanctions-related hardship.

The prospect represents a significant shift in Iran’s economic position in the Middle East, potentially elevating it from its current status among regional economies. However, the analysis hinges on the continuation of the Trump administration’s sanctions relief policy, which represents a departure from the previous approach to Iran’s nuclear and regional activities.

Source: Walla News — Original article in Hebrew.