Iran nuclear deal is getting popular like hot burger. The agreement turns out to be a historic one. It is signed between P5+1 nations and Iran. It has
Iran nuclear deal is getting popular like hot burger. The agreement turns out to be a historic one. It is signed between P5+1 nations and Iran. It has given way to a decade long impasse. Nevertheless, the deal has to pass the congress-test as well. But it hardly matters as Mr Barack Obama is likely to use his veto power in case the majority sways away from it. Mr Obama would not let this opportunity slip away from his hands. He is eager to add something substantial in his resume before he leaves the White House.
Iran’s economy is mainly dependent on export. Hence, the sanctions have thrown Iran’s economy in the flush. The EU oil embargo has reduced their oil sales. Some analysts claimed that their hard currency reserves got exhausted entirely and now running on exchange of gold. In the beginning, inflation rate was as high as 27%. Hyperinflation seeped in. Even they have been unable to pay their military personnel and other government workers. The bottom line is, sanctions had catastrophic effect on its economy that people are still reeling from it.
The bigger picture is whether the deal is good enough for the rest of the world or not. It opens a slew of debates, dividing people between exponents and critics. Advocates are quite happy with the deal and proclaiming that nothing more could have been achieved out of this deal. Iran, one of the oil hubs and instrumental in arms technology, is a trade destination for a few nations including China, India, Taiwan, Turkey. One of the theories which is being created is that United States has sealed the deal in order to appease these nations. These nations are major importers of oil from Iran. So the United States did not want to hamper their export as nearly 40% of its export goes to European Union, Japan, China, India. Now, the moot question arises whether the United States is doing all these so-called negotiations out of self-interest or for global security.
Advocates also infer that the deal is definitely going to curb Iran’s nuclear ambition and will reboot its economy as this deal offers $7 billion to them. But this is where critics discredit their argument and argue that Iran never keeps its promises and will default on this too. And this deal gives them a golden chance to make their wallet fat, which will give them enough cash to enrich uranium. Criticism is incomplete without Israel. Vicious censure came from Israel’s Prime Minister Benjamin Netanyahu, who keeps emphasizing that Iran is a threat and should be contained by imposing sanctions. Arabs are not lagging behind in reprehending the deal. Everybody knows Iran can cut Arab nations’ oil share if it comes back in the business. So it is palpable they are nervous. Air of dissent is not only coming from outside the US but inside. The Republicans do not find it a comprehensive deal. They want Iran to dismantle its stockpile completely which could be achieved only in a fantasy. Therefore, it is creating a sheer bitterness among the Democrats and the Republicans.
At the moment, situation is quite vague. Although the world is perceiving it as a land-breaking deal. The deal serves their business purpose. It is opening more avenues for trade. Now, the job lies in the hands of the United Nations, if Iran is suspected of breaching the deal, they should not shy from imposing double sanction on them. But they are unlikely to go this way because they do not want to get isolated again. We can only pray that the deal turns out to be a successful one and contributes to the prosperity of the world.
Silver lining is always there!!