Tehran hasn't benefited much from the nuclear deal. But the real problem is its own economy.
The Iran nuclear deal was destined to be controversial in its negotiation, conclusion and implementation. Nowhere is the deal more complex than in the area of sanctions relief. But blaming sanctions for the failure of a windfall for Iran to materialize — as critics and supporters alike are saying — misplaces attribution and undermines prospects for the deal’s success.
Iran has already received some benefit from the nuclear deal. The stabilization of its economy, which began after President Hassan Rouhani was elected, has permitted some reforms and economic regeneration. But expectations of the deal were high and have yet to be satisfied. Iranians have struggled to access $100 billion of their assets unfrozen under the nuclear deal; even Secretary of State John Kerry says they have wrangled only $3 billion of this sum. Moreover, most foreign companies and banks are hanging back, unwilling to do deals in such a high-risk jurisdiction.
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WNU Editor: After the fall of the Soviet Union it took years for Russia's banking system to get "its act together" together .... and it is still a work in progress. I expect the same with Iran .... if not longer.
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