Date of Creation
During the second term of the Obama Administration, the United States and the European Union negotiated a deal with the Islamic Republic of Iran regarding their nuclear program. These negotiations encompassed the relaxing of sanctions on the Iranian economy in exchange for concessions on the part of their nuclear program. This thesis investigates how the deal will affect the economy of Iran and the international oil market, two entities which are deeply intertwined. The findings suggest that the opening of Iran’s economy will almost certainly lead to a strengthening of their domestic economy in the short-term, but that the government of Iran, ravaged by corruption and mismanagement, will lessen the long-term benefits of their economy. For the international oil market, this thesis finds that the tensions between the major oil producing nations in the world, including Iran, Iraq, Saudi Arabia, and Russia, will prevent an agreement to limit production and lead to further over-supply within the oil market.
Foley, Ryan, "The Economic Impact of Lifting Sanctions on Iran: How the Joint Comprehensive Plan of Action Will Affect the Economy of Iran" (2015). Vannicelli Washington Semester Away Program Award. 2.