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World18 July 20152 min read

Iran deal a mixed economic win for Russia: analysts

Moscow The landmark deal on Iran's nuclear programme that Russia helped steer through marathon talks is a diplomatic fillip for Moscow which will boost trade with Tehran but could also hit much-needed energy revenues, analysts said. Iran and the P5+1 group -- Russia, the United S

Editorial Team Legacy

Published 18 July 2015, 8:00 · Updated 22:13

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Iran deal a mixed economic win for Russia: analysts

Moscow

The landmark deal on Iran's nuclear programme that Russia helped steer through marathon talks is a diplomatic fillip for Moscow which will boost trade with Tehran but could also hit much-needed energy revenues, analysts said.

Iran and the P5+1 group -- Russia, the United States, China, Britain, France and Germany -- struck an agreement on Tuesday that would progressively lift economic sanctions against Tehran in exchange for limitations on its nuclear programme.

As an Iranian ally, Moscow appears to have been central in securing the deal and experts say it could help burnish Russia's international image that has taken a beating over the crisis in Ukraine.

US President Barack Obama pointedly praised his counterpart Vladimir Putin for his help, a rare hint of goodwill between the two men locked in a standoff over Russia's meddling in its ex-Soviet neighbour.

"Russia's biggest victory in the deal is one of prestige," said Sergei Seregichev, a Middle East scholar at the Russian State Humanitarian University.

"Who made Iran agree with the United States? It was Russia. Without Russia, there would have been no deal."

And once Iran's sanctions are lifted, Russia -- which has seen its own economy suffer due in part to Western sanctions over Ukraine -- could likely be first in line to win lucrative contracts in key sectors such as energy and transport.

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