Iran’s government has announced it can now access more than $100 billion in frozen assets and that 9 Iranian banks have re-connected the country to SWIFT international banking system. These quick developments are being implemented following the completion of the nuclear agreement signed in July 2015 and the subsequent lifting of international sanctions.
With multi-billion dollar trade and investment contracts signed last week with France and Italy, Iranian President Hassan Rouhani is very actively conducting a quicker-than-expected comeback of Iran on the world trade and finance scene. In light of growing difficulties related to ongoing low oil prices, Iran has indeed to find alternative ways of economic developments.
Besides whatever the oil price is, Iran has learned the hard way how to live outside the world economy, that’s why such comeback, at least from an economic viewpoint, is more than welcome.