ALSO IN FRIDAY FORECAST

Interim Nuclear Agreement to be Implemented by Early January
India Looks to Accelerate Chabahar Port
Rouhani Expresses Concern About Extremism in Region
Central Bank: Exports Down 16.8% This Spring
Continuing Support for Rouhani’s Nuclear Deal

Days after the interim deal with the 5+1 Powers over Tehran’s nuclear program, Iran is hopefully looking at billions of dollars in economic benefits from renewed trade and projects.

This week’s visit by Turkish Foreign Minister Ahmet Davutoglu has brought not only the prospect of Iran’s involvement in discussions to resolve the Syrian conflict. Davutoglu spoke of a resumption of the surge in Turkish-Iranian trade before the impact of US-led sanctions, projecting $30 billion in 2015 and $100 billion by 2020.

This morning, Iranian State media are highlighting the comments of Turkey’s Economy Minister, Zafer Caglayan, “In case the sanctions on Iran are eased, Halkbank and other Turkish banks will announce their readiness to process Iran’s foreign banking transactions.”

Halkbank was a major conduit for Turkey’s payments for Iranian oil and natural gas before sanctions cut off transactions in dollars and euros, and then transfer of gold for gas.

The interim nuclear deal on Sunday in Geneva lifted the ban on gold and precious metals, although any easing of banking restrictions awaits the comprehensive agreement sought within a year.

Iran is also hoping that the multi-billion-dollar Iran-Pakistan gas pipeline project can be resumed and completed.

Press TV seizes on a remark by Pakistan’s Petroleum and Natural Resources Minister Shahid Khaqan Abbasi, “I think trade restrictions will be lifted on Iran following agreement between Iran and world powers,” as he said he would discuss the project with Iranian Oil Minister Bijan Namdar Zanganeh in December.

Tehran has built 900 of the 1100 kilometers of the pipeline inside Iran. However, construction of the 700-kilometer portion in Pakistan has not started.

Earlier this year Iran turned down a Pakistani request for $2 billion to launch that construction.


Interim Nuclear Agreement to be Implemented by Early January

Iran’s envoy to the U.N. nuclear agency has said that the interim nuclear agreement between Iran and the P5+1 powers is expected to be implemented in late December or early January.

Under the November 24 interim accord, Iran agreed to curb its nuclear program in exchange for limited sanctions relief.

Asked when he expected the six-month agreement to start, Ambassador Reza Najafi told reporters: “We expect that either the end of December or beginning of January we should start implementing the measures agreed by both sides.”

India Looks to Accelerate Chabahar Port Project

As Western companies look to take advantage of the thaw in US-Iranian relations to gain access to Iran’s oil reserves, India is sending a team to accelerate the work currently underway in the port of Chabahar in the southeast of the country.

The port of Chabahar in southeast Iran is central to India’s efforts to circumvent Pakistan and open up a route to landlocked Afghanistan where it has developed close security ties and economic interests.

The port, which India is partly financing, will also be another gateway to Iran itself for Indian commerce.

Work has been slow on expanding berthing facilities and container terminals, partly because India has been reluctant to press ahead too enthusiastically for fear of upsetting the United States, keen to isolate Iran over its nuclear ambitions.

India has committed $100 million to upgrading facilities at the port after spending $100 million on building a 220-km (140-mile) road in a dangerous stretch of western Afghanistan to link up with Chabahar.

The port on the Gulf of Oman is 72 km (44 mile) from Pakistan’s deep-water Gwadar port, which China has built as part of a plan to open up an energy and trade corridor from the Gulf, across Pakistan to western China.

Rouhani Expresses Concern About Extremism in Region

In a meeting with United Arab Emirates Foreign Minister Sheikh Abdullah bin Zayed yesterday, President Rouhani warned against the spread of extremism in the Middle East.

Rouhani also praised “close cultural and economic relations” between Iran and the UAE, saying that his administration is set to enhance Tehran’s ties with Abu Dhabi in different sectors.

Since coming into office the Rouhani administration has sought to improve Tehran’s ties with the Gulf States.

Central Bank: Exports Down 16.8% This Spring

The Central Bank has put out a note of reality behind Iran’s recent efforts for a nuclear deal: exports between March and June fell 16.8%, compared to the same period in 2012.

Continuing Support for Rouhani’s Nuclear Deal

A range of leading Iranian figures have reiterated support for the interim nuclear deal and President Rouhani’s engagement of the West.

Ali Akbar Nategh-Nouri, a member of the Expediency Council and supporter of the President, hailed the Supreme Leader’s endorsement and a triumph over Israel:

This agreement was a success. The reason for it being that it angered some groups. The Imam [the late Ayatollah Khomeini] said something like, “If you see that the enemy became happy with you, you know that there is a problem in your work. If he is worried and angry, you know you have succeeded.”

Now, Israel is angry. The Prime Minister of the usurper regime was against this agreement and America’s stance. If we had failed, Israel would be celebrating.

However, it is not just Rouhani’s allies who are promoting the agreement. Grand Ayatollah Nasser Makarem Shirazi firmly declared:

Some on the sidelines take uninformed positions about the Geneva accord and say this act was not approved by the Supreme Leader; they must know that the Supreme Leader has approved it. The Westerners officially recognized Iran’s nuclear right within the framework of this agreement. Of course this agreement is not ideal but in the current situation it has been the only way.

The head of judiciary, Sadegh Larijani, praised the efforts of the “children of Iran and the Revolution” in the negotiations. At the same time, both he and his brother, Speaker of Parliament Ali Larijani, reminded Rouhani, “The continuation of these negotiations must continue with the preservation of the system’s red lines and perseverance towards the Iranian nation’s nuclear rights….The negotiations delegation must make an effort to preserve the structure of peaceful nuclear energy in Iran … and it must not be limited.”

The military added its compliments, with Brigadier General Mohammad Hejazi thanking those who went to Geneva and saying, “The achievements that have been reached in recent nuclear negotiations were the result of national sympathy and unity in the country.”

(hat tip to Iran Tracker for quotes)