(AFP-Daily Mail-UK) Eric Randolph - Despite thousands of business delegates flooding into Tehran after the 2015 nuclear agreement, big deals have been slow to emerge. A UN trade report published in June said total foreign direct investment into Iran in 2016 was $3.4 billion - way below the $4.7 billion it received in 2012 before sanctions hit. Although many international sanctions were lifted under the nuclear deal, Washington maintained many related to human rights, ballistic missile tests and Iran's role in regional conflicts. U.S. lawmakers are in the process of tightening these sanctions, leaving many international firms worried they could face massive fines or be barred from working in the U.S. Moreover, Iran remains a risky investment prospect due to its pervasive corruption and red tape, a banking sector crippled by toxic debt and a fluctuating currency. All this has scared off the global banks needed to finance long-term deals.
2017-07-04 00:00:00Full ArticleBACK Visit the Daily Alert Archive