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Iran's Nuclear Deal: Who Stands To Gain?

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Iran's Nuclear Deal: Who Stands To Gain?

This month, a long awaited agreement between Iranian officials and Western diplomats was made. The deal has been criticized by Middle Eastern leaders and some members of Congress, but if it is implemented, it would represent a lucrative opportunity for several industries around the world.

Europe

One of the largest beneficiaries of Iran's nuclear deal is Europe. The deal will open up Iran's crude oil market, something that will prove helpful to EU policymakers, who have been working to reduce the region's reliance on Russian energy supplies.

Once the sanctions that are keeping Iranian oil from the markets have been lifted, energy companies should see beneficial changes; Tehran has already promised to give energy companies better deals than their current contracts supply.

Related Link: EU In Favor Of Iran Deal

Automakers

Without sanctions in place, U.S. and European automakers will be able to sell in Iran where demand for Western vehicles is expected to be high. Some German carmakers have already begun making deals with private Iranian firms to test and manufacture car engines in Iran. Most believe that efficient vehicles will be in high demand once the market opens up and Iranians look to clean up their air and reduce pollution.

Insurers

According to Reuters, a survey of 11 insurance companies showed that eight saw Iran as an attractive opportunity. The untapped Iranian market is said to represent a $8 billion market for insurance companies, making it a major focus for many firms once sanctions are lifted.

Export-related risks means insurers would have the opportunity to write policies for everything from shipping terminals to cargo movement.

Image Credit: Public Domain

 

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