Iranian JCPOA

 In this paper, I will be exploring the background of the JCPOA (Joint Comprehensive Plan of Action) agreement, see what the effects on the Iranian economy would look like if they signed, and I will be analyzing the pros of signing the JCPOA agreement. 

Before we start debating on whether the Iranian government should or shouldn’t sign the agreement, let's take a look at the background of the JCPOA. In 2016, the JCPOA was put into effect by the P5+1 with the intention to dispose of all Iran’s medium enriched uranium missiles and reduce their low enriched uranium missiles by 98%, in exchange for a 66% reduction on its western tariffs for the next thirteen years. But, in 2018, President Donald Trump announced the withdrawal of the United States from the JCPOA agreement. Since early 2021, talks have been held on whether the JCPOA agreement should be continued.

    Now that we know what the JCPOA agreement is, we will see what the effects on the Iranian economy might look like. If Iran signed, then the U.S would lift 2⁄3 of the western tariffs on Iran. This would positively affect Iran’s economy, because they are one of the world’s largest oil producers. By signing the agreement, the tariffs would be lifted and the Iranians could sell more oil and gain more revenue. Before the JCPOA agreement, Iran's economy was poor due to inflation, a recession, currency depreciation, and the new tariffs on oil. But, when Iran signed the JCPOA, they began to export nearly 2.1 million barrels of oil per day, which put Iran at the exporting levels they were at before the tariffs. Now, Iran is only able to export around 840,000 barrels of oil per day, only 40% of what they were exporting without tariffs.

    Finally, let us look at the pros of signing the JCPOA agreement. The first pro of signing the agreement is that Iran would have barely any nuclear weapons. The Iranian Nuclear Program is currently in the stage of research for a bomb. They are close to manufacturing a nuclear weapon, and if the U.S does not sign the agreement, Iran might develop a strong weapon of mass destruction. The second pro is that if the U.S signs, then it will lower gasoline prices in America. Think of it, if Iran starts exporting more oil, then gas prices will be cheaper. If the U.S does not sign, then they will place tariffs on Iran that only further limit the supply of oil.

    Today, we have seen how the JCPOA agreement worked, how it would benefit Iran’s economy, and how it also benefits the U.S. I believe that by signing the JCPOA, it would allow for further ties between the United States and Iran and benefit the Economies of both countries. ties between the United States and Iran and benefit the Economies of both countries. Without the JCPOA, the United States could eventually be left with a losing choice between  nuclear armed Iran or another was in the Middle East.

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