A new World Bank report assesses that the removal of economic sanctions against Iran could significantly boost economic growth in Iran—including $15 billion in annual oil revenue—while potentially reducing global oil prices as much as 14 percent in the short run, depending on OPEC’s response, and opening up a significant market for exports.
Drawing from the report’s systematic and comprehensive analysis, Shantayanan Devarajan discussed the economic and geopolitical implications of Iran’s potential reentry into the global economy. Carnegie’s Uri Dadush discussed the economic consequences and Karim Sadjadpour will moderate.
Shantayanan Devarajan is the chief economist of the World Bank’s Middle East and North Africa region.
Karim Sadjadpour is a senior associate in the Carnegie Endowment’s Middle East Program.
Uri Dadush is a senior associate at the Carnegie Endowment for International Peace working on international economics.