Earlier this morning, President Obama announced a historic accord to curb Iran’s nuclear capabilities in exchange for lifting sanctions on the country.
It is a move that could open the door for some US businesses. As The Wall Street Journal reports again today, that’s already in the works: Apple and General Electric have been in touch with potential Iranian distributors.
The nuclear accord reached today doesn’t mean companies can immediately market and sell their products in Iran — the country must meet certain requirements before sanctions will be lifted, and it’s not clear when that would happen — but it does mean businesses are suddenly very close to operating in the country, something they’ve been interested in for some time: The Wall Street Journal similarly reported in October of last year that Apple and GE had been in touch with distributors in the country, and that Boeing sold aircraft manuals and charts to the country for the first time in decades.
Iran is a country of more than 77 million people, and as the Journal points out, today’s nuclear deal would eventually unfreeze more than $100 billion in Iranian cash held in foreign banks, which would give more buying power to the country and certainly could entice companies hoping to bring their products to Iran.