Progress Toward Iran Deal Raises Hopes for New Oil Exports

Sanctions relief could see Iran restoring production

Iran’s Foreign Ministry has again reported progress in the Vienna talks, with expectations that the nuclear deal could be restored in a mere matter of days.

This is a continuation of recent optimism about the process, with Iran in particular seeing a lot of steps in the right direction. The expectation is that the P5+1 deal will be restored, though exact details on things like Iran wanting the US to promise not to unilaterally abandon the deal again are still to be worked out.

There is heavy anticipation for the economic opportunities of this deal, with hopes for Iranian oil exports being quickly restored, and prices already dipping on that possibility.

Sanctions relief is a big deal for Iran’s economy, and would expect to be more impactful than in the first deal, as the US never really complied with the terms of that deal, and kept other parties from doing so with threats of sanctions.

Author: Jason Ditz

Jason Ditz is senior editor of