The declining oil prices is having a huge impact on Iranian economy and Rouhani’s government’s attempt to get sanctions lifted. According this this report, “the decline in crude prices and a looming Nov. 24 deadline for a nuclear accord with the U.S. and other world powers are raising pressure on Rouhani, elected last year on a platform to end Iran’s isolation and revive the economy. Brent fell today as much as 32 cents, or 0.4 percent, to $86.80 a barrel and traded at $86.90 at 7:04 a.m. on the London-based ICE Futures Europe exchange.”
Iran and United States have intensified their nuclear negotiations with difference teams meeting to agree on a draft agreement. It is possible that they want a draft agreement by September 22nd, the date Iran’s foreign minister, and possibly President Rouhani, will come to New York to attend United Nations General Assembly. It was reported that Iran has agreed to a maximum of 7,000 centrifuges. This could break the ice, and with high ranking officials meeting in Geneva, there is cautious optimism.
Diplomats from the P5+1 countries (China, France, Germany, Russia and the United Kingdom) and negotiators from the United States and Iran have been diligently striving to meet the July 20 deadline for signing a historic and unprecedented accord assuring that Iran will not build nuclear weapons. Although the interim agreement signed in November 2013 allows for a six-month extension, prolonging these crucial negotiations in a time of extreme turmoil in the Middle East region is not in the interest of either Iran or the U.S. It is time to end 35 years of wasteful cold war and mutual satanization with Iran. Both nations must instead focus their full diplomatic powers on stabilizing the deteriorating security conditions in Syria, Iraq, Afghanistan and beyond.
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“Major world powers reached an agreement with Iran early Sunday morning in Geneva, producing an interim deal that would roll back the Iranian nuclear program in exchange for limited sanction relief.” Good News for the Iranian people, and this is a victory for Rouhani and his foreign policy team.