Asia

Iran: The land of new beginnings following the lifting of trade sanctions

On 16 January this year, six world powers and the Islamic Republic of Iran reached a landmark agreement, lifting the sanctions that have crippled the country’s economy for more than a decade.

On the face of it, the move opened the doors to a new global investment hotspot. With the second-largest economy in the Middle East and North Africa – its GDP is $406.6bn (£282bn) – Iran is also home to the world’s second- and fourth-biggest reserves of natural gas and crude oil respectively. For the past 12 years it has been a virtually untapped market and with the sanctions…

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