Iranian pistachio nuts could soon be back on the global market now that a historic deal has been reached between Iran and six countries led by the United States. Iran agreed Tuesday to limit its nuclear capabilities in exchange for the lifting of economic sanctions that would not only restart the flow of luxury Iranian products but also restore opportunities to Iranian professionals and students.
Although a deal has been struck, no guarantee exists that the sanctions will be lifted, as the International Atomic Energy Agency has to certify that Iran has complied with the terms, and the U.S. Congress has 60 days to try to veto the deal. The accord could take until the end of the year to implement, the Washington Post reported.
Still, if the deal is ultimately implemented and sanctions are lifted, Americans can expect to gain access to a number of exotic foreign products, including “Iranian-origin carpets and foodstuffs,” according to the text of the agreement. Among those are Iranian pistachios, banned from the United States since 2010 and from the world market since 2013, and world-renowned Iranian caviar, also banned in the U.S. under the Comprehensive Iran Sanctions, Accountability and Divestment Act of 2010.
More importantly, under the deal Iranian citizens can also no longer be excluded from “higher education coursework related to careers in nuclear science, nuclear engineering or the energy sector,” the text reads. A United Nations ban currently prevents Iranians from pursuing their studies in these topics.
Non-U.S. banks would no longer be subject to sanctions or be penalized for doing business with Iranian financial institutions, while some 800 Iranian individuals and organizations would be removed from a list of Specially Designated Nationals, frequently referred to as the SDN list that places global leaders under international and multilateral sanctions. The deal would also let non-U.S. entities “owned or controlled by a U.S. person” conduct business and banking transactions in Iran.
Although the deal is expected increase trade that would bolster Iran’s economy, it could take many months to repair the economic damage wrought by years of sanctions.