By John Lee.
An analysis by Fortune magazine lists the expected winners and losers from a lifting of sanctions on Iran.
- EU automakers: Companies such as Germany’s Mercedes-Benz, and Peugeot and Renault of France, are identified as being well positioned to take advantage of Iran’s large market.
- Oil services companies: Iran says it needs $230 billion worth of upgrades to its energy facilities, which the magazine sees as good news for Schlumberger and Halliburton.
- Airplane makers: Iran plans to buy 400 planes in the next decade, a potential boon for Boeing and Airbus.
- Chinese manufacturers: China-Iran trade was $44 billion in 2014, but the report says “the Chinese companies could soon be sharing their captive market with Western competitors“.
- Russian oil and gas firms: Iran aims to double its oil exports, which could drive down global prices and hit Russia particularly hard in its key markets of Asia and Europe.
- US Pistachio growers: Nut growers in California have benefited from sanctions, but Iranian farmers are prepping for a big return.