Companies That Will Benefit From The Removal Of Iran's Sanctions
Despite controversy over whether or not Iran's nuclear deal does enough to keep Tehran from developing nuclear weapons, a hearing on sanctions relief for the nation is set to be held in the new year. Many are expecting to see the strict rules that have restricted business transactions with Iran being lifted.
Most US firms have been unable to do business with Iran over the past decade as rules permit only certain industries to make limited transactions in Tehran, but under the new agreement most American companies will be able to access Iran's growing market.
Technology
Technology firms stand to be some of the largest beneficiaries of an open market with Iran. According to BMI Research, the nation's more than 77 million people are expected to create a market worth $13 billion over the next four years demanding things like computers, gaming devices and mobile handsets.
This could be particularly lucrative for firms like Apple Inc. (NASDAQ: AAPL) and HP Inc. (NASDAQ: HPQ), both of which have already begun to lay the groundwork for entering Iran's market as soon as sanctions are lifted.
Finance
The financial industry is another sector likely to receive a boost once the sanctions in Iran have been lifted. International banks have been prohibited from conducting business with Iranian banks, but new rules permitting trade between the two will give banks more freedom to interact with each other.
In the past, companies like Germany's Deutsche Bank (NYSE: DB) paid hefty fines for doing business in Iran, but once the sanctions have been removed, those transactions will be legal again.
Auto-Makers
Western vehicles are expected to be in high demand once sanctions have been lifted, and European car-makers are expected to reap the benefits.
Firms like Germany's Volkswagen (OTC: VLKAY) and France's Peugeot (OTC: PEUGY) were popular choices among Iranians before the sanctions were in place. Once they are lifted, the firms expect reentry to prove lucrative once again.
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