Iran / by Alistair Galloway

Switzerland agreed to act as an intermediary in Saudi Arabia’s dealings and interests in Iran. Iran announced that it will remove its troops from Syria. The Iranian foreign minister visisted London for a summit on Syria and met with the British foreign secretary. Parliamentary and Assembly of Experts elections took place where reformists and conservatives outperformed the hardliners. Iran made an agreement to purchase fighter jets from Russia later this year. Iran asked that its future payments for oil all be in euros. After Iran’s assets were unfrozen following the nuclear deal, it now has access to over $100 billion which will be kept in accounts abroad to protect the Iranian economy from inflation. Iran started oil exports to Europe for the first time since sanctions were lifted. Though top oil producing countries decided to place a limit on their oil exports to bring stability to the market, Iran was unwilling to follow suit due to its desire to raise its oil output to pre-sanction levels.