Steering the region’s second-largest economy through Western sanctions means Iran is in a unique position to weather an oil sector downturn, Moody’s said.
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And President Hassan Rouhani has wasted no time in seizing new opportunities, embarking on a trip to Europe in which he’s signed billions of dollars worth of new business for Iran.
The exchange said daily trading has more than tripled from $40 million to $133 million since implementation of the deal, which lifted worldwide sanctions in exchange for Iran restricting its nuclear activities.
Commenting about his proposed sanctions for recent ballistic missile tests, he said: “We are looking at ways of having a much stronger pushback on the violations that took place”. He made the statement live on state television. “Even if the oil price rises, we should rely more on non-oil exports”.
Dr Rouhani said: “Beside the cooperation to promote their mutual ties, Iran and Germany can also start cooperation to solve some of the regional and worldwide issues, especially to stop terrorism and establish peace and stability in the region, as well”. He said Iran’s economy would change dramatically, away from importing goods paid for by oil sales and towards developing industry through joint ventures with foreign firms, with a view to exporting manufactured goods including cars. This will be the first visit of the head of German diplomacy to Tehran after the lifting of sanctions against the Islamic Republic of Iran.
Rouhani said he would do everything in his power to ensure a free and fair vote.
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His delegation signed dozens of economic agreements with both countries.
