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Will Saudi Arabia lift the Yemen blockade soon?

January 28, 2016: Following the lifting of some economic sanctions, Iran’s president Hassan Rouhani says his government is ready to welcome investment, technology and create a new export market: "Under the new conditions, we want to export 30 percent of what we produce” – adding his country is the most secure and stable in the Middle East.

With US$100 billion in cash now unlocked and a re-connection to the international SWIFT banking network, Iran seems poised to give Airbus a major aircraft order. No doubt other manufacturers soon will be recipients of the country’s desire to resume trade with Europe and the U.S.

However it’s worth remembering that the recent lifting of U.S. sanctions comes with a significant caveat. According to the U.S. Department of the Treasury’s Office of Foreign Assets Control, sanctions will continue to be applied against Iran in relation to its “support for terrorism, support for persons involved in human rights abuses in Syria or for the government of Syria, support for persons threatening the peace, security, or stability of Yemen, human rights abuses, and [its] ballistic missile program”.

PwC suggests 74 percent of the 1,400 global CEOs it surveyed recently are worrying about geopolitical uncertainty this year and are looking “to play thing safe”.

So the current ideological conflict between the Sunni rulers of Saudi Arabia and the Shia theocracy in Iran suggests that while trade to and from Iran might be quasi-normalized sometime soon, nobody appears to be under any illusion that it will lead to peace.

- Simon Keeble is the editor of Freightweek

 

FREIGHTWEEK MAGAZINE
Vol.3/Ed.01

Will Saudi Arabia lift the Yemen blockade soon?
The uninterrupted return of merchant shipping is a necessity if the country’s stabilization and reconstruction is to succeed. Read more
 
The port of Duqm has an outsize ambition
Surrounded by oil rich, geocentrically located neighbors, Oman has its work cut out in challenging for cargo and logistics traffic. Read more

Poor LatAm infrastructure compounds economic woes
Falling commodity prices, combined with uncertainty in two of the largest economies in the region – Brazil and Argentina – have riddled the region with doubt. Read more
 
Oil: what goes down must go up, eventually
The value of oil values has dropped 70 percent since 2014, with geopolitics playing a significant part in its downfall. Read more
 

GSSA outsourcing continues in 2016
Last year’s third quarter provided a much-needed shot in the arm for GSSAs following a less than exceptional year. Read more
 
Billionaires can afford air cargo
As pharma and healthcare shipments continue to prop up the air cargo industry, billionaires in these sectors have increased their collective wealth to US$250 billion. Read more
 
No bad chips for Intel
The company’s supply chain is now 'conflict-free' – ensuring profits from the metals are not funding human rights atrocities in the Democratic Republic of the Congo. Read more

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