It's the economy, stupid: Iran's new negotiating strategy facing the US combines nuclear talks with an offer to integrate American companies into the Iranian economy.
Iranian officials first raised the proposal during the initial round of talks in Oman. At the upcoming meeting in Geneva, they are expected to present an organized plan centered on allowing US firms to enter Iran's oil industry, rehabilitate its refineries and take part in additional projects, regional diplomatic sources told Israel Hayom.
Hamid Ghanbari, deputy head of economic diplomacy at Iran's Foreign Ministry, confirmed to local media that Tehran has offered Washington economic cooperation ranging from permitting US firms to operate in Iran's oil and gas fields to investing in mining projects and even purchasing passenger aircraft from American manufacturers.
Iran holds some of the world's largest natural gas reserves but has struggled for years to develop them due to corruption and sweeping international sanctions.
According to Ghanbari, the negotiations "include shared interests in areas such as energy, joint oil and gas fields, fast-yield mineral investments, urban development and aircraft purchases." He argued that for any long-term agreement to endure without being violated, it is essential that the US secure substantial and rapid economic returns.
Ghanbari added that the previous agreement, the 2015 Joint Comprehensive Plan of Action, failed in part because the US did not reap tangible economic benefits from it. Any new deal, he suggested, would require opportunities for quick and significant returns for Washington in order to make it resilient.
In exchange for these economic incentives, Iran is demanding swift measures to unfreeze tens of billions of dollars in Iranian assets held in Western banks and to ease sanctions in step with progress in the talks. Iran's frozen funds worldwide amount to tens of billions of dollars. Diplomatic sources noted, however, that after the previous deal led to the release of Iranian assets, much of the money was funneled into military buildup, missile development and the financing of regional terrorist organizations.
The Iranian approach appears designed to engage President Donald Trump and his envoys, Steve Witkoff and Jared Kushner, on business rather than on strictly military and security grounds.
The talks are set to take place in Geneva on Tuesday. After the first round concludes, the sides will decide whether to continue discussions later in the week or return home for consultations.
