The Results of the Comprehensive Nuclear Agreement for Ordinary People in Iran

After experiencing the taste of sanctions, it seems that the people of Iran are eagerly awaiting the implementation of the results of the nuclear agreement. Many believe that the expansion of international cooperation will improve Iran's economic conditions, create more economic opportunities, and enhance relations with the West. According to the comprehensive nuclear agreement, provided that Iran fulfills its commitments, a significant portion of the sanctions that have severely restricted Iran's relationship with the international financial system will be lifted, which has brought hope to the people. Ali, a 19-year-old resident of Tehran, who is very happy about this agreement, says: 'Hope for life has returned to us. Before this, I thought that my generation and I would have no future at all.' An artist living in Tehran, who agreed to speak on the condition of anonymity, says: 'For the first time in a long time, I feel I can breathe easily. The economic pressure on people has been very severe, and I hope that the prices of many essential goods that have risen sharply in recent years will decrease.' However, he emphasizes that he does not expect everything to change overnight. He says: 'I know the country will not change. Financial and political corruption will continue, and many of our political and civil rights and freedoms will also continue to be violated.' Lifting the sanctions related to Iran's connection with the global financial and banking network will eliminate existing barriers to sending or receiving money from abroad. Iranian students and professionals will be allowed to study again in fields related to nuclear sciences. The most important expectation of the people is the impact of lifting sanctions on the severe inflation and high prices of recent years and preventing further decline in the value of the rial against reputable foreign currencies. A journalist in Tehran, who did not want to be named, said that solving these problems would lead to people spending more money, which would be positive for the country's economic activities. According to him, many people were waiting for the results of the negotiations for important economic decisions. However, experts warn that rebuilding and revitalizing Iran's economy, which has been under pressure from sanctions for years and has suffered from prolonged mismanagement, will take a long time. Mehrdad Emadi, an economist residing in London, predicts that the effects of lifting sanctions will gradually show their impact on the lives of the Iranian people within six months to a year. He states that inflation and the prices of foreign currencies will likely decrease to some extent. He adds: 'One of the results of lifting sanctions is the Iranian government's access to about $100 billion of the country's oil revenue that has been blocked in foreign banks.' Many Iranians hope that after this agreement, the volume of foreign investment, especially in the energy, automotive, and tourism sectors, will increase and new job opportunities will be created. However, according to Mehrdad Emadi, it will take at least three years for the unemployment rate to significantly decrease. He says: 'The main problem for the people of Iran right now is not inflation but widespread unemployment. About 60% of the private sector economy and factories are currently operating at less than half of their capacity.' Abbas Shaeri Moghadam, Iran's Deputy Minister of Oil in the petrochemical industry, predicts that foreign companies will quickly flock to invest in the oil and chemical industries in Iran. The state news agency IRNA quoted him as saying: 'We must prepare ourselves for such a day.' However, on the same day, Ali Tayebnia, Iran's Minister of Economy, in his cautious remarks emphasized that the Iranian economy 'suffers from structural problems' and must be seriously addressed. He added: 'Today's events are very good, and the restrictions on our economy will be lifted. It depends on us how to take advantage of the current positive conditions and flourish our economy.' Mehrdad Emadi, the London-based economist, agrees with this cautious assessment and believes that the negative and destructive impacts of international sanctions are responsible for a maximum of 30% of Iran's economic problems. According to him, 'chronic financial corruption, an inefficient public and state sector, and the lack of a coherent strategy in the oil and gas sector are the fundamental problems of Iran's economy that must be solved.' Golnaz Esfandiari is a senior reporter for Radio Free Europe/Radio Liberty and the executive editor of Radio Farda.