“US and Iranian business interests reaching out”

“US and Iranian business interests reaching out”
April 21-22, 2009
     The Mehr News Agency writes that the attendance of over 450 companies from 34 countries—including 5 unidentified US firms—at an annual Iranian energy exhibition indicates that international sanctions against Iran have been ineffective (Mehr News). Mark Wallace, president of United Against Nuclear Iran, criticizes the participants for “undermining” efforts against Iran’s nuclear program (World Tribune).
     However, Stanley Reed reports that international sanctions are limiting the development of Iran’s oil reserves and forcing businesses to seek financing at high rates from suboptimal banks. Reed writes that with low oil prices compounding the scarcity of funding and causing fears of social unrest, executives are eager for US investments and engagement (BusinessWeek).
Mehr News | World Tribune | BusinessWeek

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