Iran moderates dominate parliamentary election wins

Global Business

Iranian lawmakers who supported a nuclear deal that ended years of punitive economic sanctions have won a majority in parliamentary elections. It strengthens their mandate for Iran to re-establish western trade links after years of isolation. But some analysts say change won’t be as quick, or easy, as many would like.

CCTV America’s Owen Fairclough reports from Washington D.C.

Iran moderates dominate parliamentary election wins

Iranian lawmakers who supported a nuclear deal that ended years of punitive economic sanctions have won a majority in parliamentary elections. It strengthens their mandate for Iran to re-establish western trade links after years of isolation. But some analysts say change won't be as quick, or easy, as many would like.CCTV America's Owen Fairclough reports from Washington D.C.resident Hassan Rouhani negotiated the end of a western trade embargo that crippled his country's economy. Now those who backed him are ascending. Moderates and reformists dominated Parliamentary elections, while the number of hardliners who opposed engagement with the West were cut almost in half. Many international sanctions were lifted after Iran agreed to scale back its production of weapons-grade plutonium. European firms, in particular, are seizing the moment. French oil giant, Total, was among the first to begin exporting Iranian crude to European markets. Iranian consumers will likely notice the difference in Iran's post-sanctions society. The central bank has announced that credit companies from China and Japan will introduce their cards there, but some analysts say there are plenty of pitfalls for those trying to do business with Iran. Another conflict with the oil cartel OPEC is also brewing. Iran is desperate to exploit one of its most lucrative resources oil and boost production back to pre-sanctions levels. That's a problem for some OPEC producers who've just agreed to limit production in a bid to curb the oversupply that contributed to a price collapse.

President Hassan Rouhani negotiated the end of a western trade embargo that crippled his country’s economy. Now those who backed him are ascending.

Moderates and reformists dominated Parliamentary elections, while the number of hardliners who opposed engagement with the West were cut almost in half.

Many international sanctions were lifted after Iran agreed to scale back its production of weapons-grade plutonium.

European firms, in particular, are seizing the moment. French oil giant, Total, was among the first to begin exporting Iranian crude to European markets.

Iranian consumers will likely notice the difference in Iran’s post-sanctions society.

The central bank has announced that credit companies from China and Japan will introduce their cards there, but some analysts say there are plenty of pitfalls for those trying to do business with Iran.

Another conflict with the oil cartel OPEC is also brewing.

Iran is desperate to exploit one of its most lucrative resources oil and boost production back to pre-sanctions levels.

That’s a problem for some OPEC producers who’ve just agreed to limit production in a bid to curb the oversupply that contributed to a price collapse.


Expert Afshin Molavi on aftermath of Iran elections

CCTV America’s Susan Roberts interiewed Afshin Molavi, a senior fellow at the Johns Hopkins Foreign Policy Institute about the aftermath and impact of Iran’s elections.
Follow Susan Roberts on Twitter @IamSusanRoberts

Expert Afshin Molavi on aftermath of Iran elections

CCTV America's Susan Roberts interiewed Afshin Molavi , a senior fellow at the Johns Hopkins Foreign Policy Institute about the aftermath and impact of Iran's elections.