Not so long ago, things were looking up for Iran - NBF

In a report that was prepared by National Bank Financial, Inc. (NBF), analysts explained that it was not so long ago, things were looking up for Iran. 

Key Quotes:

"The 2015 nuclear deal signed with the United States, the United Kingdom, France, Russia, China and Germany lifted tough sanctions on Iran in exchange for curbs on its nuclear program.

This, among other things, permitted a sharp increase in Iran’s oil production and unlocked tens of billions of dollars in frozen assets. Iran’s good fortune extended also into the geopolitical sphere. ISIS, a serious enemy of Iran, has been all but defeated. 

The Assad regime in Syria, a close ally of Iran, has been saved. Iraq, once a fierce geopolitical rival, is now a de facto ally since the overthrow of Saddam Hussein. Hezbollah, an Iranian proxy, is literally the power behind the throne in Lebanon. 

And, finally, Saudi Arabia, Iran’s Sunni rival, is struggling with major economic and political challenges, not to mention being stuck in a military quagmire in Yemen against Iranian-backed rebels. However, Iran’s winning streak came to an abrupt halt last May when U.S. President Donald Trump followed through on his threat to withdraw from the nuclear deal. Worries over looming sanctions have already caused Iran’s currency to crater and inflation to spiral out of control. 

These economic difficulties have focused the Iranian public’s attention back on the price being paid for Iran’s geopolitical ambitions. Indeed, the more Iran spends its wealth abroad in the quest for influence, the more vulnerable it becomes to questions why this money would not be better spent at home."

"While the Iranian government is in no imminent danger of collapse, the fact that these questions are being raised is a sign of growing public discontent. "

Further reading:

• Iran is in a very precarious geopolitical position - NBC
• White House Advisor Bolton: US looking at imposing other sanctions on Iran