Iran rejoined the world economy this weekend as the United States and European block countries lifted about $100 billion in frozen assets to Iran, mainly from past oil sales, in response to confirmation from international inspectors that they had dismantled a large portion of their nuclear infrastructure. All of this came just hours after a successful prisoner swap between the United States and Iran saw the return of five U.S. citizens long held in captivity, and days after U.S. troops drifted into Iran’s waters were held captive for several hours before being released with their craft. This improved cooperation and effective deal implementation is a result of Iran and western powers forging a deal that yields benefits for all parties. As a critical election comes up next month, Iranian President Hassan Rouhani is determined to see implementation through and get money flowing through his strapped economy.
The Iran Deal, officially the Joint Comprehensive Plan of Action (JCPOA) was completed in mid-2015 as an intense battle ensued in Washington that threatened over a year’s worth of negotiations. Portraying it as what would give Iran ‘the bomb’, Republicans, Israel, and their team of super PAC’s joined in a display of wealth to shoot down the deal in Congress with a false advertising campaign of monstrous proportion. In the end, the deal withstood congressional review as Obama maintained enough votes to prevent congressional Republicans from killing the deal.
As more than 12,000 uranium-enriching centrifuges are dismantled, and cement is poured into the core of a plutonium-producing reactor, the Iran Deal appears to be holding up as the verification-based deal that it was created to be.