Iran: Full JCPOA economic gains hinge on resolving remaining challenges

November 1, 2016 - 10:22

TEHRAN – While great progress has been made since the nuclear deal was signed between Iran and world powers, Tehran complains it is not reaping economic benefits from the pact slowed by challenges such as the U.S. negligence. 

“Since the implementation of Barjam (JCPOA) on January 16, numerous economic and financial achievements have been made. Having said that, certain obstacles and technical problems related to the financial and banking sectors as well as some hesitations and negligence on the part of the Western sides, particularly the U.S., have caused lower-than-expected outcomes,” read part of quarterly report on the JCPOA to the Iranian parliament by the Foreign Ministry. 
A major concern, inter alia, of Iran in post-sanctions era has been hesitance shown by international banks to enter partnership with Iranian banks, fearing falling foul of the U.S. sanctions. 
On the other hand, Washington has emphasized it has kept its side of the bargain. 
The U.S. negligence is not the only obstacle getting in the way. 
The document cites six more disturbing factors of other remaining sanctions such as those related to the country’s missile program, Financial Action Task Force restrictions, Iran’s risk factor as delineated by the Organization for Economic Co-operation and Development (OECD), opportunistic economic partners, and Iranophobia. 
The document blames Saudi Arabia for lobbying against Iran in international organizations and exercising mounting pressure on banks and institutions which seek resuming economic cooperation with Iran. 

AK/PA