Friday, November 28, 2008

Potential effects of US lifting its Iran sanctions

A new report highlighted by the National Foreign Trade Council explores the impact of lifting US Iran sanctions on the global economy, trade and the price of oil. An excerpt:

If the United States lifted sanctions on Iran and the nation liberalized its economic regime, the world price of oil could fall by 10 percent and Iran’s gross domestic product (GDP) could increase by 23 percent annually, according to a new paper developed by economists Dean DeRosa and Gary Hufbauer. The paper, Normalization of Economic Relations: Consequences for Iran’s Economy and the United States, was commissioned by USA*Engage, and explores the effects of lifting U.S. sanctions on Iran and how such a shift in policy could impact the world economy, the U.S. and Iranian economies, U.S. multinational corporations, the international oil-and-gas sector, and the price of oil.

The report can be accessed here.

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