New York, Dec 7, IRNA – James D. Hamilton. Professor of Economics has said that Iran’s first step deal with the Group 5+1 would definitely have a tangible impact on global economy.
Speaking exclusively to IRNA, Hamilton said global oil markets would experience remarkable positive changes if all signatories to the deal fulfilled their commitments.
Iran and members of the Group 5+1 (US, Britain, Russia, France and China plus Germany) held talks in Geneva from November 20-24. After five days of intensive discussions, the two reached an accord on a step-by-step settlement of the nuclear dispute which would lead to a comprehensive agreement.
Referring to the large number of pros and cons of the Geneva deal inside and outside the US, the professor said, President Barack Obama administration should be seriously vigilant over sabotages made by the Saudi government since Riyadh would be the main loser of the improvement of Tehran-Washington relations.
Hamilton whose research interests include business cycles, monetary policy, and oil shocks, added Saudi Arabia knows that removal of anti-Iran sanctions would lead to the increase of Tehran’s oil production and, consequently, weakening Riyadh’s situation in the region.
Stressing that Iran and the sextet have to act with good-will, he said continuation of talks between the two sides would bring about tangible developments at least in the field of oil.
Hamilton also stressed that improvement of Tehran-Washington relations would serve both nations.
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