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As I read (and watch) the news, I notice that Iran’s Hassan Rouhani is signing tens of billions of dollars worth of contracts in Europe. It is as if he is some Saudi or Qatari or UAE prince or potentate. I realize that there is an irony here, somewhere (if I can explain it).

The Gulf GCC states are allegedly reportedly presumably perhaps maybe cutting back their purchases in Europe. Mainly non-military and non-security purchases. A result of lower revenues. The Iranians are busy signing new trade deals and purchasing tens of billions of new goods (and services). A result of increased revenues.

Oil revenues of most oil producers, including Gulf GCC, have gone down significantly. Iranian oil revenues are increasing sharply now, because of the lifting of sanctions. So will other non-oil revenues increase now given that their economy is diverse. It is too soon and too absurd to say that the mullahs are the “new” oil princes. Of course t is only like a windfall being used, but is it?
Who would have thunk it only months ago. How long would this trend last? How long could it last? Ich weiss nicht………..

Cheers
Mohammed Haider Ghuloum