World News

Rouhani Says Iran Wants to Rejoin Global Economy

Iranian President Hassan Rouhani says his country is ready to rejoin the global economy after carrying out an interim deal with world powers to limit its nuclear development program.

Rouhani told corporate chiefs Thursday at the World Economic Forum in Davos, Switzerland, he sees Tehran "pursuing policies of moderation, prudence and hope in the future global economy." He said Iran has the potential to be one of the world's top 10 economic powers in the next 30 years, and plans to reopen trade with other countries.

Iran's interim deal curtailing its nuclear development took effect this week. Rouhani said he did not see "a serious impediment" in completing a permanent deal with the United States, Russia, China, Britain, France, Germany and the European Union.

U.S.-led sanctions aimed at keeping Tehran from developing a nuclear weapon have battered the Iranian economy. With the easing of sanctions, Iran is seeking to renew Western investment.

Rouhani said Iran's vast oil reserves could play a key role in promoting global energy stability.

"The Islamic Republic of Iran is prepared to engage in constructive cooperation in promoting global energy security by relying on its vast energy resources in a framework of mutual interests," he announced. "We are prepared to engage in a serious process to establish reliable institutions for this long-term partnership."

"Earlier today I expressed my views in a meeting with energy experts and executives," Rouhani added. "Here I would just like to stress that from the viewpoint of the Islamic Republic of Iran the security of production and supply of energy based on the geostrategic necessities of countries is the biggest factor in turning energy to a key and sustainable factor in promoting peace and stability."

During the meeting with energy executives,  Rouhani pledged that by September Iran would produce a new attractive investment scheme for oil contracts.

Feature Story

Militant Islamist fighters parade on military vehicles along the streets of northern Raqqa province, Syria, June 30, 2014.

Video British Fighters on Frontline of Islamic State Information War

It’s estimated that several hundred British citizens are fighting for Islamic State alongside other foreign jihadists More