Sanctions-free Iran re-enters world economy with a bang

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Iran has re-entered the world economy following its decade-long isolation, sending oil prices and Middle East stock markets tumbling. With UN-led sanctions lifted, Iran is gearing up to increase its oil output by 500,000 barrels a day and is also eyeing the implementation of a flurry of economic measures.

 

It is estimated that Tehran would be able to unlock nearly $100bn (£70bn, €91.8bn) of frozen assets as part of the financial windfall it has received, following the formal implementation of its nuclear deal with world powers. More than $30bn in foreign assets would be immediately available to Tehran as it comes out of economic hibernation.

 

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